Binance has received approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer, marking its 21st global regulatory milestone. This allows Binance to expand services, including securities distribution and EMI issuance, in Brazil. The approval underscores Binance’s strong commitment to compliance with AML and CFT standards. Binance crypto exchange in terms of trading volume has obtained approval from the Central Bank of Brazil to buy Sim; Paul, a licensed broker-dealer. Binance is the first crypto exchange that has received a broker-dealer license in Brazil, the biggest country in Latin America in population and economy. A Big Win for Binance This is Binance’ s 21st regulatory milestone across the globe. Thus, the company continues on its way toward attaining a standard of highest compliance. In Brazil, beyond just trading in cryptocurrencies, the exchange can provide distribution of securities and issue EMI. Binance, henceforth, is set to be an integral part of the regional financial sector. Binance CEO Richard Teng called this approval a major milestone for the company. He said, “ Brazil is home to a vibrant and forward-thinking crypto community. This approval reflects our commitment to compliance and security, and we’re excited to bring innovative financial services to users in Brazil.” Brazil is one of the leaders in the adoption of cryptocurrency worldwide and ranks 10th globally, according to Chainalysis. The country’s Central Bank and IRS have set out clear guidelines for the crypto industry, but have also been looking for public and business input on how to create fair and effective regulations. In 2024, for the first time in history, Brazil authorized its first-ever spot Solana ETF, shows digital assets into traditional finance. The same year, the Brazil crypto transactions market crossed the record $90.3 billion barrier, that shows how much Brazil really matters to global crypto space. Binance Expands to Latin America This approval made Binance’s position in Latin America. The company has already gained regulatory approval in countries like Argentina, and its new license in Brazil supports its mission to promote responsible crypto adoption worldwide. Internationally, Binance holds licenses in critical markets such as Dubai, France, El Salvador, and Japan. These licenses show that Binance is committed to regulatory compliance. Binance’s compliance program follows global standards, including strong anti-money laundering (AML) and counter-terrorism financing (CFT) measures. It features thorough identity verification processes (KYC and KYB) and a top-tier Financial Crime Compliance (FCC) unit. This unit helps law enforcement investigate crypto-related crimes and improve security across the ecosystem. With its broker-dealer license and the acquisition of Sim;paul, Binance is to play a much bigger role in Brazil’s crypto industry. As Brazil continues embracing crypto with clear rules and innovation, Binance has the best opportunities for advanced financial solutions and supporting the country’s growing digital economy. With its new broker-dealer license, Binance can now provide advanced financial services and support Brazil’s growing use of digital assets. Bionance is yet to hire 1000 compliance staff and contractors, ensuring crypto ecosystem’s growth sufficiently and responsibly globally. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
