Binance Connect to cease operations amid regulatory pressure

Binance, the world’s largest cryptocurrency exchange by trading volume, is shutting down its regulated fiat-to-crypto platform, Binance Connect, effective from today, 16 August. The platform, which launched in March 2022, allowed users to buy and sell over 50 cryptocurrencies using fiat card payments such as Mastercard and Visa. According to a report by Cointelegraph, the…