Binance has received approval from the Central Bank of Brazil to acquire Simpaul, a licensed brokerage firm, marking its 21st regulatory milestone globally. This allows Binance to expand its services such as securities distribution and cryptocurrency issuance in Brazil, demonstrating Binance’s strong commitment to complying with anti-money laundering (AML) and counter-terrorism financing (CFT) standards.
The world’s largest cryptocurrency exchange Binance by trading volume has become the first exchange to receive a brokerage license in Brazil – the largest country in Latin America in terms of both population and economic size.
A big step for Binance
This is Binance’s 21st regulatory milestone globally, further affirming its efforts to achieve the highest compliance standards. In Brazil, in addition to cryptocurrency trading, Binance can also provide securities distribution and cryptocurrency issuance services. This helps Binance gradually become an important part of the regional financial ecosystem.
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Binance CEO Richard Teng called the move a significant milestone for the company. “Brazil is home to a vibrant and progressive cryptocurrency community,” he said. “This approval reflects our commitment to compliance and security, while also providing innovative financial services to Brazilians.” Brazil is one of the world’s leading countries in cryptocurrency adoption, ranking 10th in Chainalysis’ report. The Central Bank of Brazil and the country’s tax authority have issued clear guidelines for the cryptocurrency industry, while soliciting input from the public and businesses to develop fair and effective regulations.
