BinanceThe largest cryptocurrency exchange by trading volume has received regulatory approval from the Central Bank of Brazil to acquire Sim;paul, an authorized broker-dealer, according to a Jan. 2 report. Statement.
Binance is the first cryptocurrency exchange in Brazil to have such a license. Licensing allows the company to provide advanced financial services and strengthen its regional position.
The approval is also an important milestone for Binance that has been facing Regulatory barriers in Brazil. In 2024, the exchange solved the problems with the Brazilian Securities and Exchange Commission (CVM) by paying a settlement after performing certain services without proper authorization.
By acquiring Sim;paul, Binance demonstrates its commitment to aligning with local regulations and advancing compliance in one of the fastest growing cryptocurrency markets globally.
CEO of Binance Richard Teng expressed:
Binance is now an authorized brokerage institution in Brazil, which is an important achievement for this respective market. We are also at the forefront, becoming the first crypto exchange to have a broker-dealer license in the most populous country in LatAm, which shows our continuous efforts with the responsible and sustainable development of the Web3 industry and its growing adoption in Brazil and the world.
This is Binance's 21st worldwide regulatory milestone.
Brazil Crypto Advance Regulation
Brazil has been active in shaping a clear framework for crypto operations. Central Bank and Brazilian tax authority They are drafting detailed regulations and inviting public comments to amend them.
In parallel, Brazilian legislators are also debating laws on important issues such as Stablecoin management and asset segregation These efforts are designed to strengthen the country's forward-looking approach to monitoring digital assets.
With its new broker-dealer license, Binance is well positioned to adapt to Brazil's evolving legal environment. Sim;paul's license to issue electronic money and distribute securities gives Binance the tools to meet the growing demand for secure and compliant crypto services.
2025 flowers
Binance stated that this move shows that it is under construction it Successes In 2024.
Over the past year, Binance has expanded its regulatory approvals in multiple jurisdictions, including France, Japanand El Salvador.
The exchange's compliance program integrates advanced anti-money laundering measures, identity verification systems and a dedicated financial crimes unit to support law enforcement in combating illegal activities involving digital assets.
Binance has significantly increased its workforce to further enhance its capabilities More than 1000 professionals Aiming to drive responsible growth across the industry.
