Binance becomes first crypto exchange with broker-dealer license in Brazil
Binance, the largest crypto exchange by trading volume, has secured regulatory approval from the Central Bank of Brazil to acquire Sim;paul, a licensed broker-dealer, according to a Jan. 2 statement.
Binance is the first crypto exchange in Brazil to hold such a license. The licensing would allow the firm to offer enhanced financial services and strengthen its regional position.
The approval also marks a significant milestone for Binance, which has faced regulatory hurdles in Brazil. In 2024, the exchange resolved issues with the Brazilian Securities and Exchange Commission (CVM) by paying a settlement after operating certain services without proper authorization.
By acquiring Sim;paul, Binance demonstrates its commitment to aligning with…
