India's USDT Premium Tops 8.5% After Enforcement Raids on Bengaluru Crypto Firms

India's USDT premium surpassed 8.5% following raids by the Enforcement Directorate on cryptocurrency firms in Bengaluru. The crackdown disrupted the supply of stablecoins on the local market. Reports indicate that India's efforts to restrict crypto-based remittances have squeezed the availability of USDT across the country.