Binance, the largest cryptocurrency exchange by trading volume, has received regulatory approval from Brazil’s central bank to acquire licensed broker-dealer Simpol, according to a statement on January 2.
Binance is the first Brazilian cryptocurrency exchange to hold such a license. This license will enable the company to offer enhanced financial services and strengthen its position in the region.
The approval is also an important milestone for Binance, which has faced regulatory hurdles in Brazil. In 2024, the exchange resolved its dispute with the Brazilian Securities and Exchange Commission (CVM) by paying a settlement after operating certain services without proper authorization.
By acquiring Sim;paul, Binance is demonstrating its commitment to comply with local regulations and drive compliance in one of the world’s fastest growing crypto markets.
Binance CEO Richard Teng said:
“Binance is now a licensed broker-dealer institution in Brazil, which is a very important achievement for this relevant market. We became the first crypto exchange to receive a dealer license, reflecting our continued efforts towards the responsible and sustainable development of the Web3 industry and increasing its adoption in Brazil and globally. ”
This is Binance’s 21st regulatory milestone globally.
Brazil’s Progressive Cryptocurrency Regulation
Brazil has been active in forming a clear framework for cryptocurrency operations. The central bank and the Brazilian tax authority have developed detailed regulations and are seeking public input to improve them.
In parallel, Brazilian lawmakers are also debating legislation on important topics such as stablecoin management and asset segregation. These initiatives aim to strengthen the country’s progressive approach to digital asset monitoring.
With the new broker-dealer license, Binance is well-positioned to adapt to Brazil’s evolving legal environment. Authorizing Sim;paul to issue electronic money and distribute securities gives Binance the tools to meet the growing demand for secure and compliant crypto services.
2025 goals
Binance said this move shows it is built on its success In 2024.
Over the past year, Binance has expanded regulatory approvals across multiple jurisdictions, including France, Japan, and El Salvador.
The exchange’s compliance program integrates advanced anti-money laundering, identity verification systems, and a specialized financial crimes department to support law enforcement agencies in combating illegal activity involving digital assets.
To further strengthen its capabilities, Binance has significantly expanded its compliance workforce, with over 1,000 professionals aiming to drive responsible growth across the industry.
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