Wu Shuo learned that Binance announced it has received approval from the Central Bank of Brazil to acquire the locally licensed brokerage Sim;paul, becoming the first cryptocurrency exchange to obtain a brokerage license in Brazil. This is Binance's 21st compliance license globally. Brazil currently ranks tenth in Chainalysis's Global Cryptocurrency Adoption Index, and local regulators are advancing the formulation of regulations specific to the cryptocurrency industry, including asset segregation and stablecoin-related legislation.