Woofun AI reports that the local USDT premium in India has escalated to over 8.5%, up from the typical 3-4% range, following a supply shortage. On Saturday, USDT traded at approximately 102.88 rupees against an interbank rate of 94.65 rupees per dollar. This divergence stems from actions by the Enforcement Directorate targeting entities facilitating cross-border transfers for expatriates, which authorities allege may violate the Foreign Exchange Management Act despite legal fund sources. Purushottam Anand of Crypto Legal attributes the premium increase to market-incorporated risk due to regulatory uncertainty. The Standing Committee on Finance is scheduled to meet with the Reserve Bank of India and the Institute of Chartered Accountants of India on July 2 to discuss future regulatory frameworks. According to FATF statistics, stablecoins accounted for 84% of the $154 billion in illegal virtual asset transactions in 2025.