Binance Becomes Brazil’s First Licensed Crypto Broker-Dealer

Binance has reached a significant landmark by becoming the first cryptocurrency exchange licensed as a broker-dealer in Brazil, a pivotal step for advancing digital asset adoption in Latin America.

This approval from Banco Central do Brasil allows Binance to acquire São Paulo-based Sim;paul, an investment platform authorized to distribute securities and issue electronic money.

This latest move solidifies Binance’s position as a global leader in the crypto space, with 21 regulatory approvals now under its belt.

At the same time, the exchange continues to dominate trading volumes, reporting a 24-hour turnover of $18.2 billion, far surpassing competitors like Bybit, which managed $6.3 billion.

Brazil is emerging as a key player in the crypto world, with efforts to implement robust regulations gaining momentum.

According to Binance’s Latin America head, Guilherme Nazar, the Brazilian government has adopted a collaborative approach, inviting input from industry stakeholders and the public. Final regulations are expected to be unveiled by mid-2025, shaping the country’s crypto landscape.