Binance has now become a licensed brokerage firm in Brazil

BlockBeats News, January 2nd, Binance CEO Richard Teng stated on social media, "2024 is an extraordinary year for the crypto industry and Binance, and it's only fitting to kick off 2025 with our 21st global regulatory milestone. Binance is now a licensed brokerage institution in Brazil, a major achievement in this key market."

Sim;paul is a licensed brokerage institution authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Binance stated that through obtaining full acquisition approval for Sim;paul, Binance can more efficiently adapt to evolving regulatory requirements in Brazil on a compliant basis to operate a global trading platform. This approval also makes Binance the first cryptocurrency exchange platform in Brazil to hold a brokerage license.