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Bitcoin drops 6.5% after Fed’s 75 bps rate hike; Tether under pressure to produce documents on USDT reserve

The biggest news in the cryptosphere for Sept. 21 includes Bitcoin tanking 6.5% after Fed announced a 75 bps rate hike, a court ordering Tether to provide documents on its reserves, and Ethereum Devs looking to enable withdrawals in the upcoming Shanghai upgrade.

CryptoSlate Top Stories

Developer consensus supports Ethereum withdrawals in upcoming Shanghai upgrade

CryptoSlate in a Sept. 20 article which was informed by a conversation with Ethereum Core Dev Micah Zoltu wrote that the upcoming Shanghai upgrade may not activate staking withdrawals.

In a follow-up discussion, Core Devs Coordinator Trenton Van Epps clarified that the subject of enabling withdrawals is being considered by the Ethereum Devs collective along with a range of other improvement proposals.

Iran to launch CBDC on Sept. 22

The Central Bank of Iran (CBI) is set to launch its digital currency dubbed “Crypto-Rial” by  Sept. 22

The Crypto Rial will be created by converting some Iranian Rail banknotes into cryptocurrency.

Canadian Crypto King’s assets confiscated as investors try to recoup millions entrusted to him

Investors have filed a lawsuit against 23-year-old Aiden Pleterski and creditors are looking into the whereabouts of the funds of at least $35 million entrusted to him and his company, AP Private Equity.

The presiding court has moved to confiscate assets worth $2 million from the self-proclaimed “Crypto King.”

IMF calls for coordinated approach to global crypto regulation

With the crypto market becoming increasingly integrated into the global financial system, the IMF has called on regulators worldwide to adopt a coordinated framework for regulating cryptocurrency.

The IMF explained that diverging regulatory approaches will create an unfair system where market participants migrate to regions with the least regulation.

New York court orders Tether to provide documents on USDT reserve

USDT issuer Tether is facing a lawsuit for allegedly lying about its USDT reserve which inflated the crypto market and crashed on traders.

The presiding court has asked Tether to provide financial records…

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