Binance has secured approval from the Central Bank of Brazil to acquire Sim;paul, a locally licensed broker-dealer. This approval is the exchange’s 21st global regulatory milestone as it continues to secure licenses worldwide.‍

A Key Development in Latin America

This approval allows Binance to operate within Brazil’s evolving regulatory framework, as the exchange enhances its compliance capabilities to align with local rules. By acquiring Sim;paul, a broker-dealer authorized to distribute securities and issue electronic money (EMI), Binance becomes the first crypto exchange to hold a broker-dealer license in Brazil.

Richard Teng, Binance’s Chief Executive Officer, emphasized the importance of this achievement:

“A market with burgeoning crypto adoption, Brazil is home to a vibrant and dynamic community that is readily embracing the future of finance. This approval underscores our commitment to compliance and security, and we look forward to continuing to provide our local users with a secure, reliable, and innovative platform for their digital-asset needs.”

Brazil ranks 10th in the Chainalysis Global Crypto Adoption Index and has been proactive in developing a regulatory framework for the cryptocurrency industry. Proposals from the Central Bank of Brazil and the Brazilian IRS are under public consultation, and federal legislators are debating bills on asset segregation and stablecoins.‍

Expanding Global Momentum

The regulatory milestone in Brazil follows similar achievements for Binance in Argentina, India, Kazakhstan, and Indonesia in 2024. These developments build on prior approvals in major jurisdictions like Dubai, France, Japan, and El Salvador.

Guilherme Nazar, Binance’s Head of Latin America, highlighted the significance of this approval:

“This milestone enhances our ability to provide secure and innovative financial solutions to our growing user base in Brazil. It reflects our dedication to compliance and regulatory excellence while driving the adoption of digital assets.”