Binance Wins a Broker-dealer License in Brazil
Binance has announced it has received approval from the Central Bank of Brazil to acquire Sim;paul, a licensed broker-dealer in the country.
This adds to Binance’s impressive record of 21 global regulatory approvals, solidifying its position as the cryptocurrency exchange with the most licenses, registrations, and authorizations worldwide.
This acquisition enables Binance to further comply with Brazil’s regulatory requirements, as Sim;paul is authorized to distribute securities and issue electronic money by the Central Bank of Brazil. As the first crypto exchange to be granted a broker-dealer license in Brazil, Binance can better serve the country’s growing crypto community.
Richard Teng, CEO of Binance, emphasized the significance of this accomplishment, stating, “We are excited to announce our latest regulatory approval. Brazil is a rapidly expanding market for crypto, and we are grateful for the local regulators’ efforts to establish clear guidelines for this emerging industry.
