India is facing a significant shortage of stablecoins like USDT, causing its price to surge locally. This premium, usually modest, has ballooned to over 8.5% following Enforcement Directorate actions against entities facilitating crypto-based money transfers. The crackdown has disrupted a popular remittance channel for NRIs, impacting USDT supply and raising concerns about regulatory ambiguity and the urgent need for clear crypto policies.
India is experiencing a significant shortage of stablecoins like USDT, driving its local premium above 8.5%. This surge follows Enforcement Directorate actions against crypto entities, disrupting a key remittance channel for NRIs. The crackdown highlights regulatory ambiguity…
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