Cloudflare Joins Stablecoin Market with NET Dollar; Senate Sets Crypto Tax Hearing

- Cloudflare unveils fully collateralized NET Dollar stablecoin. - Senate to assess crypto taxation in October hearing. On Sept. 25, 2025, The Block reported that internet infrastructure firm Cloudflare has entered the stablecoin market with the launch of its digital currency, the NET Dollar. The NET Dollar is fully collateralized by the U.S. dollar, and this move marks Cloudflare’s strategic debut in a rapidly expanding sector attracting increasing institutional interest. The company designed the stablecoin to offer stability and reliability in financial transactions by leveraging its technological expertise in internet services. In a related development, The Block confirmed that the U.S. Senate Finance Committee will hold a hearing on Oct. 1 to examine the taxation of digital assets. The hearing, titled “Examining the Taxation of Digital Assets,” will feature testimony from industry leaders, including representatives from Coinbase, Coin Center, ASKramer Law, and the American Institute of CPAs' Digital Assets Tax Task Force. This congressional initiative underscores the growing focus on cryptocurrency regulation as lawmakers address evolving challenges in taxation and financial compliance.