BINANCE SECURES REGULATORY APPROVAL IN BRAZIL, ACQUIRES LOCAL LICENSED BROKER-DEALER

- Top crypto exchange @Binance has confirmed its regulatory approval in Brazil, enhancing its commitment towards adhering to the highest regulatory standards worldwide.

- Following the regulatory license, the exchange has also secured the approval of the Central Bank of Brazil to acquire a broker-dealer in the Latin American region.

Key Details:

- Binance confirmed its acquisition of Sim;paul, a licensed broker-dealer in Brazil, via a blog post on January 2.

- The Central Bank of Brazil authorizes Sim;paul to distribute securities and issue Electronic Money (EMI). Hence, Binance's takeover means the exchange becomes the first to have a broker-dealer license in Brazil.

- CEO Richard Teng was quoted lauding the achievement, stating that it showcases Binance's goal of being fully compliant with regulations;

- "This approval underscores our commitment to compliance and security, and we look forward to continuing to provide our local users with a secure, reliable, and innovative platform for their digital-asset needs."

- It is also worth noting that the approval represents Binance's 21st global regulatory milestone, solidifying its position as the top exchange with the most licenses.