US Congressmen Unveil Bipartisan Move To ‘Modernize’ Stablecoin Tax Code

The post Gold edges higher as Fed easing outlook cushions downside appeared on BitcoinEthereumNews.com. Gold trades near $3,670 on Friday, snapping a two-day losing streak after the Fed’s interest rate cut. The US Dollar and Treasury yields extend post-Fed rebound as Powell’s tone proved less dovish than expected. Gold remains cushioned as markets anticipate two more Fed rate cuts by year-end. Gold (XAU/USD) regains ground on Friday, snapping a two-day losing streak after a volatile midweek reaction to the Federal Reserve’s (Fed) interest rate decision. At the time of writing, XAU/USD is trading around $3,668 during the American session, up nearly 0.65%. On Wednesday, the US central bank lowered the federal funds rate by 25 basis points (bps) to the 4.00%-4.25% range, a move that was fully priced in. The metal briefly spiked to a fresh all-time high near $3,707 in the immediate aftermath, but the gains quickly faded as Fed Chair Jerome Powell’s press conference struck a less dovish tone, triggering a sharp recovery in the US Dollar (USD) and Treasury yields. Chair Jerome Powell said the Fed does not feel the need to move quickly on rates, describing the latest move as a “risk-management cut” aimed at cushioning the economy amid signs of a slowing labor market. He added that policy is “not on a preset course” and will remain data-dependent, signaling a cautious approach rather than an aggressive easing cycle. Friday’s rebound in XAU/USD comes in spite of a firmer US Dollar and rising Treasury yields, as traders weigh the implications of the Fed’s monetary policy outlook. Markets are already pricing in the possibility of two more cuts by year-end, which in turn cushions downside risks for bullion, but elevated yields and a resilient Greenback keep the near-term outlook capped, limiting room for further gains. Market movers: US Dollar firms with higher yields, Fed projects gradual easing Minneapolis Fed President Neel…

The post Flare Mainnet Launches FXRP, Bringing XRP Into DeFi appeared on BitcoinEthereumNews.com. Flare’s FAssets protocol converts cryptocurrencies like XRP that aren’t smart contract enabled into assets that can be utilized in DeFi on Flare and other applications. To guarantee FAssets maintain the highest levels of safety, trust, and dependability for both institutions and the XRP community, the Flare Foundation will keep making investments in strong, scalable security mechanisms. FAssets, beginning with FXRP v1.2, are now live on the Flare mainnet. Now that the first FAsset has finally been launched, holders of XRP may mint FXRP on Flare and begin using XRP throughout Flare DeFi. The XRP DeFi awakening is just getting started. A quick refresher on FAssets Flare’s FAssets protocol converts cryptocurrencies like XRP that aren’t smart contract enabled into assets that can be utilized in DeFi on Flare and other applications. They are one-to-one copies of the original asset (XRP to FXRP, for example), protected by Flare’s codified data standards and an overcollateralized structure of independent agents. As a consequence, Flare’s composable decentralized financial ecosystem, which includes DEX trading, lending, stablecoin minting, liquid staking, and other use cases, becomes fully accessible to non-smart contract assets. FAssets are built for composability. FXRP may travel freely within Flare’s DeFi ecosystem when it is minted. This eliminates the need for unique workarounds and enables protocols to use FXRP directly as a native building block. How is FXRP secured? FAsset security is a continuous effort rather than a one-time achievement. In addition to Immunefi-powered bug bounties and community-driven evaluations like Code4rena, the system has already completed at least four independent audits by reputable companies like Zellic and Coinspect. Additionally, Hypernative keeps a close eye on the FAssets system and the DeFi apps on Flare around-the-clock. Comprehensive security and fast reaction procedures are also in place. Why are there so many layers? Because FAssets oversee high-value, intricate processes…

Artificial Superintelligence Alliance (FET) is trading under increasing bearish pressure with the overall market. The FET price over the last 24 hours is down by 4.58%, and over the last week it is also down by 4.66%. At the time of writing, FET is trading at $0.6479 with a 24-hour trading volume of $105.46 million, […]