TechFlow News — On January 2, Binance announced it received regulatory approval from the Central Bank of Brazil to acquire Sim;paul, a licensed brokerage firm authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Sim;paul is a licensed brokerage authorized by the Brazilian Central Bank for securities distribution and EMI issuance. Binance stated that it has already been operating in compliance with Brazil's regulatory requirements, and this approval makes Binance the first cryptocurrency exchange in Brazil to hold a brokerage license.
This approval also marks Binance as the first crypto exchange in Brazil to obtain a brokerage dealer license, becoming its 21st authorization globally. Binance CEO Richard Teng said crypto adoption in Brazil is thriving, and the company will continue providing local users with a secure and innovative platform.
