Business Standard reports that users are turning to USDT-based platforms to bypass taxes and regulations, impacting domestic gaming firms with job losses and revenue decline.
India’s ban on real-money online games has unintentionally shifted many players to offshore cryptocurrency casinos. According to Business Standard, gamblers now use USDT (a U.S. dollar-pegged stablecoin) to avoid local taxes and gaming regulations. This shift has led to significant revenue losses and job cuts for Indian gaming companies, underscoring how regulatory actions can drive consumers toward unregulated, offshore digital platforms.