Binance received approval from the Central Bank of Brazil to acquire local licensed broker-dealer “Sim;paul”

PANews reported on January 2 that according to the official blog, Binance announced that it has received approval from the Central Bank of Brazil to acquire Sim;paul, a broker-dealer institution with a local license in the country. This marks Binance’s global regulatory achievements. reached its 21st major milestone and solidified its position as the world’s most licensed cryptocurrency exchange.

By obtaining full acquisition approval for Sim;paul, Binance can more effectively comply with ongoing regulatory requirements. Sim;paul is a licensed broker-dealer authorized by the Central Bank of Brazil to distribute securities and issue electronic money (EMI). Binance stated that Binance has operated in compliance with Brazilian regulatory requirements, and this approval also makes Binance the first cryptocurrency exchange in Brazil to have a broker-dealer license.