India's Enforcement Directorate raided crypto-linked remittance firms in Bengaluru, squeezing local USDT supply and pushing the premium above 8.5%, more than double the usual range. A Parliamentary Standing Committee meeting with the RBI is set for July 2 to discuss the country's crypto regulatory path forward.
Matters because: It points to tighter enforcement in a major crypto market, while the upcoming RBI meeting could shape near-term regional policy direction.