According to TechFlow, on January 2, Binance announced that it had obtained regulatory approval from the Central Bank of Brazil to acquire Simpaul, a licensed broker-dealer authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Simpaul is a licensed broker-dealer authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Binance said that Binance has been operating in accordance with Brazilian regulatory requirements, and this approval also makes Binance the first cryptocurrency exchange in Brazil with a broker-dealer license.
The approval also makes Binance the first cryptocurrency exchange in Brazil to have a broker-dealer license, its 21st authorization worldwide. Binance CEO Richard Teng said that cryptocurrency adoption in Brazil is booming and the company will continue to provide a secure and innovative platform for local users.