Binance, the world’s most licensed cryptocurrency exchange, has received approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer. This marks Binance’s 21st global regulatory milestone and strengthens its foothold in Latin America’s growing crypto market.
Key Highlights
Strategic Expansion: Brazil, ranked 10th in global crypto adoption by Chainalysis, is a key market for Binance, thanks to its active crypto community and regulatory efforts.
CEO Statement: Binance CEO Richard Teng emphasized the importance of the approval in fostering crypto adoption and praised Brazil’s clear regulatory framework.
Regulatory Commitment: Binance has expanded its compliance team by 34%, now exceeding 1,000 professionals, reinforcing trust and transparency in the crypto industry.
Broader Context
Binance’s approval in Brazil follows similar successes in Argentina, India, Kazakhstan, and Indonesia.
Brazil’s regulatory efforts include consultations on asset segregation and stablecoins, led by the Central Bank and Congress.
This move underscores Binance’s dedication to compliance, security, and provides innovative services to its global user base while supporting crypto adoption worldwide.
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