The regulatory crackdown in India has led to a tightening of USDT supply, with premiums rising to over 8.5%

The supply of USDT in India has tightened, and the local stablecoin premium has risen from 3% to 4% to over 8.5%. On Saturday, the USDT quote was 102.88 Indian Rupees, and on Friday, the closing exchange rate of the US dollar against the Indian Rupee was 94.65. The decrease in USDT inflows and concerns about a slowdown are due to the enforcement's crackdown on the transfer of 250 billion Indian rupees through virtual digital assets. Purushottam Anand, founder of Crypto Legal, stated that the recent surge reflects the risk premium brought about by regulatory uncertainty.