According to a Binance Blog announcement, Binance has announced that it has received approval from the Central Bank of Brazil to acquire the licensed brokerage firm Sim;paul, which is authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Binance has been operating in accordance with Brazil's regulatory requirements, and this approval also makes Binance the first cryptocurrency exchange in Brazil to have a brokerage license, marking its 21st authorization globally.
Binance CEO Richard Teng stated on social media, "2024 is set to be an extraordinary year for the cryptocurrency industry and for Binance, and there couldn't be a better way to kick off 2025 with our 21st global regulatory milestone. Binance has now become a licensed brokerage institution in Brazil, which is a significant achievement in this important market."
