Binance has recently secured approval from the Central Bank of Brazil for the acquisition of Sim;paul, a broker-dealer licensed in Brazil.
By receiving full approval for the takeover of Sim;paul – a licensed broker-dealer authorized to distribute securities and to issue electronic money (EMI) by the Central Bank of Brazil, Binance, which was already operating in compliance with the regulatory requirements in the country as a global exchange, can be more efficient in complying with the ongoing regulatory advancements.
The approval also makes Binance the first crypto exchange to have a broker-dealer license in Brazil.
Richard Teng, Binance’s Chief Executive Officer, commented:
“We are thrilled to announce our latest regulatory approval. A market with burgeoning…
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