In Brazil, the most populous country in Latin America, Binance has received approval from the central bank to acquire Sim;paul Investimentos, a licensed brokerage, which means Binance has obtained the 21st regulatory authorization in the world. (Previous summary: Exclusive interview) Vishal Sacheendran, general manager of Binance’s regional market: Binance will not become a bank, and Taiwan’s supervision will have a good start) (Background supplement: Binance Labs will “change its name” to rebrand, looking back on 2024: A total of 46 projects in multiple fields have been invested) This article is a press release, written and provided by Binance. Sao Paulo, January 2, 2025 – Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, has received approval from the Central Bank of Brazil to acquire a local licensee in Brazil, Latin America’s most populous country. brokerage institutions. This move highlights Binance’s achievement of the 21st global compliance milestone. As a global exchange, Binance has previously operated in compliance with the requirements of Brazilian regulators. This time, it obtained the approval of the Central Bank of Brazil to fully acquire Sim;paul, a licensed brokerage licensed to distribute securities and issue electronic money (EMI). Binance will more effectively comply with evolving regulatory requirements. At the same time, this approval also makes Binance the first cryptocurrency exchange in Brazil to hold a brokerage license. Binance CEO Richard Teng emphasized the significance of this achievement, saying: “We are pleased to announce the latest regulatory license. As a market with rising cryptocurrency adoption, Brazil’s vibrant community is ready to embrace finance. future. We appreciate the efforts of local regulatory agencies to establish clear rules for this important and growing industry. This approval once again demonstrates our commitment to compliance and safety, and we look forward to continuing to provide local users with safe, reliable and reliable products. An innovative digital asset platform.” Brazil ranks 10th on the Chainalysis Global Crypto Adoption Index and has taken a forward-looking approach to setting clear rules for the crypto industry. Brazil’s Central Bank and tax authorities have issued proposals for an exclusive regulatory framework for the crypto industry and are publicly soliciting opinions from market participants and experts. At the same time, the country’s Congress is also discussing federal bills related to asset segregation and stablecoins, which will have an impact on the industry. There are also significant connections. Guilherme Nazar, Head of Binance Latin America, commented: “This approval highlights an important milestone as we continue to expand our products and services in Brazil. It demonstrates our commitment to excellence in compliance and oversight while enhancing our We look forward to seizing this opportunity to further promote the popularity of digital assets in Brazil and create unparalleled value for our customers.” Binance’s registration in Brazil is It is one of a series of recent regulatory developments around the world, including in Argentina, India, Kazakhstan and Indonesia. This demonstrates Binance’s continued global push. Previously, Binance has also been licensed, registered, and authorized in jurisdictions such as Dubai, France, Japan, and El Salvador. Under its global standards, Binance’s compliance program includes robust anti-money laundering (AML) policies and controls, as well as a comprehensive framework for combating the financing of terrorism (CFT). In addition, Binance’s compliance program includes robust identity verification procedures (Know Your Customer and Business, KYC and KYB), as well as an industry-leading Financial Crimes Compliance (FCC) department, whose goal is to assist law enforcement agencies investigating and Crypto-asset-related crimes and capacity building, thereby enhancing the collaborative security of the ecosystem. Binance recently announced plans to expand its global compliance team by 34% to 645 full-time employees, including strategic senior hires. Currently, the company employs more than 1,000 compliance employees and outsourced personnel. Related reports: Binance is rumored to be “building a large number of Kaspa” and preparing to launch spot trading. How credible is the news? Exclusive interview) Vishal Sacheendran, general manager of Binance’s regional market: Binance will not become a bank, and Taiwan’s supervision has made a good start. Binance’s Bitcoin reserves fell below 570,000! Hitting a new low in 2024, will the miracle of soaring 90% happen again? "Binance obtains the 21st global supervision authorization in Brazil: the Central Bank of Brazil approves Binance's acquisition of licensed broker Sim;paul" This article was first published on BlockTempo (Dong District Dongzhi - the most influential blockchain news) media).