Deep Tide TechFlow News, January 2, Binance announced that it has obtained regulatory 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). Sim;paul is a licensed brokerage firm authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Binance stated that it has been operating in accordance with Brazilian regulatory requirements, and this approval also makes Binance the first cryptocurrency exchange in Brazil to hold a brokerage license.
This approval also makes Binance the first cryptocurrency exchange in Brazil to hold a brokerage license, marking its 21st authorization globally. Binance CEO Richard Teng stated that cryptocurrency adoption in Brazil is thriving, and the company will continue to provide a secure and innovative platform for local users.