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Binance, the leading global cryptocurrency exchange, has received regulatory approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer. This landmark move not only makes Binance the first crypto exchange in Brazil to obtain such a license but also enables it to expand its financial services significantly. CEO Richard Teng celebrated the achievement, emphasizing Binance’s commitment to compliance and sustainable growth in the rapidly evolving Web3 industry.
This approval marks a critical resolution of previous regulatory challenges in Brazil, where Binance had to settle disputes with the Brazilian Securities and Exchange Commission in 2024. With this acquisition, Binance is poised to boost its market presence and meet the growing demand for secure, regulated crypto services in Latin America’s largest country.
Reflecting its global strategy, Binance continues to strengthen its compliance framework, integrating rigorous anti-money laundering protocols and expanding its dedicated financial crime unit. This strategic expansion aligns with Brazil’s proactive efforts in crypto regulation, enhancing Binance’s capacity to support the broader adoption of digital assets while ensuring market integrity.
