Crypto

XRPL burn rate surges 848 percent, but signals of real-world use still unclear

XRP Ledger\'s fee burn rate jumped sharply, but the rise may not signal broader real-world use because about 1 million of 2.9 million transactions failed. Network activity increased, with transactions and payments rising and 24-hour payment volume reaching 929.6 million XRP. Some measures weakened, including active users and transactions per ledger, while active and new accounts surged. XRP price action remained rangebound around $1.50 after retreating from $1.66.

Crypto

Illinois sets digital asset transaction tax rules, including stablecoins

Illinois has released detailed criteria for applying its 0.2 percent digital asset transaction tax, including rules covering stablecoins and certain fee-based transactions. A draft regulation classifies stablecoins as digital assets subject to tax while excluding NFTs. It generally exempts DeFi transactions but allows taxation when users pay fees as consideration. Bridge use and transfers from centralized exchanges to self-custody wallets may also be taxable if fees are charged.