Binance, a global leader in cryptocurrency exchanges, has reached a significant milestone by securing regulatory approval in Brazil. The company announced on January 2 that it has received the green light from Brazil’s Central Bank to acquire Sim;paul, a broker-dealer institution licensed to operate in the country. This approval highlights Binance’s efforts to strengthen its regulatory compliance and expand its presence in Latin America.

Binance’s 21st Regulatory Milestone

With the acquisition of Sim;paul, Binance has now achieved its 21st regulatory approval worldwide. This accomplishment solidifies its position as a major player in the cryptocurrency industry. The broker-dealer, Sim;paul, was previously authorized to distribute securities and issue electronic money (EMI), a critical component for financial operations in Brazil.

The exchange’s integration of Sim;paul into its operations reflects its intent to align with Brazil’s evolving regulatory scene while also providing broker-dealer services in the country. By obtaining this license, the crypto exchange has become the first cryptocurrency exchange to hold a broker-dealer license in Brazil, the largest nation in Latin America, according to a press release.

Highlighting the achievement, Binance CEO Richard Teng shared his excitement on social media. “2024 has been a tremendous year for crypto and for Binance, and no better way than starting 2025 with our 21st global regulatory milestone,” Teng wrote on X. He further noted, “Binance is now a licensed broker-dealer institution in Brazil, such an important achievement for this relevant market.”

Furthermore, Teng emphasized the exchange’s commitment to advancing the Web3 ecosystem. He stated, “We are on the forefront and have become the first crypto exchange to hold a broker-dealer license in LatAm’s most populous nation, reflecting our continuous efforts with the responsible and sustainable development of the Web3 industry and rising adoption in Brazil and globally. Vamos juntos, Brasil!”

The regulatory approval comes amid Brazil’s growing interest in cryptocurrency. The country has shown increasing efforts to integrate digital assets into its financial system. In a recent development, Brazilian Congressman Eros Biondini introduced a bill aimed at creating a Strategic Bitcoin Reserve. The proposed legislation would allocate up to 5% of the nation’s international reserves for purchasing Bitcoin, signaling a move to diversify its assets with crypto.

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