PANews reported on January 2 that according to the official blog, Binance announced that it has obtained 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 21st important milestone in global regulation and consolidates its position as the world's most licensed cryptocurrency exchange.
By obtaining full approval for the acquisition of 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 said that Binance has been operating in accordance with Brazilian regulatory requirements, and this approval also makes Binance the first cryptocurrency exchange in Brazil with a broker-dealer license.
