| | |  Rebecca |  | | |
Market Watch There's mixed trading across the board during Wednesday trading. Bitcoin is up slightly from yesterday's price and still remains in the $9,300 range. | Bitcoin | $9,338 | -0.42% | | Ethereum | $243 | +0.02% | | Tether | $1.00 | +0.03% | | XRP | $0.197 | -0.81% | | Top 100 Winner: Band Protocol | $4.70 | +22.40% | | Top 100 Loser: Velas | $0.066 | -6.66% | Prices are as of 4:45 p.m. ET.
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 Binance is considering buying or setting up a bank, CEO Changpeng Zhao said. During an ask-me-anything (AMA) session, Zhao said that his company has not made specific plans. The relationship between crypto companies and traditional banks has changed in recent years, with many banks entering the crypto market, Zhao said. COINMARKETCAP/YOUTUBE 
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The South Korean government plans to introduce a 20% tax on income generated from crypto trading. The tax will be levied on crypto profits exceeding 2.5 million won, or around $2,000, per year. The Ministry of Economy and Finance published its revised tax code following a Tax Development Review Committee this month. The proposed taxation is a necessary requirement, the government said, citing an approach taken by countries such as the U.S. FINANCE MAGNATES
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Our Crypto Masterclass features a well-known thought leader or expert in the crypto space. Today, I focus on Dan Matuszewski, co-founder of CMS Holdings, a crypto trading firm, who finds it strange that leverage in Bitcoin is so high. To get more of Matuszewski's views and receive our Masterclass every day, sign up for Inside Crypto Premium. GET YOUR 14-DAY FREE TRIAL  | | | |
The final public testnet for Ethereum 2.0 is scheduled for August 4. Danny Ryan, an Ethereum core developer, said the date was chosen following client team discussions. Phase 0 is the first stage of the network grade, which will see Ethereum moving from a proof-of-work (PoW) consensus model to a proof-of-stake (PoS) one, boosting transaction speeds. COINTELEGRAPH
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Quick Hits - The U.S. Federal Reserve "better be ready" for a future that will see the issuance of digital currency, said Robert Bench, the assistant vice president in the secure payments group at the Federal Reserve Bank of Boston.
- SEC Commissioner Hester Peirce said that it was wrong for the agency to take legal action against Telegram, a move that forced the company to abandon its crypto project, the Telegram Open Network (TON), earlier this year.
- Blockchain project Avalanche has raised $42m in a public token sale. This brings the project's funding total to $60m, having previously raised $12m from a private token sale and $6m from venture companies.
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 |  | This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. | | | | Editor | Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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