Binance, the world’s largest cryptocurrency exchange, has received its 21st global regulatory approval, this time from Brazil’s central bank, Banco Central do Brasil. This approval positions Binance as the first crypto exchange to obtain a broker-dealer license in Brazil, a country that leads Latin America in population and economic influence.
The license paves the way for Binance to acquire São Paulo-based Sim;paul Investimentos, a licensed broker-dealer authorized to distribute securities and issue electronic money (EMI). This strategic move strengthens Binance’s foothold in Brazil and expands its capabilities to provide regulated crypto services.
Binance Becoming A Growing Presence in Latin America
This regulatory milestone underscores Binance’s commitment to operating within the legal frameworks of major markets. Brazil joins a growing list of countries, including Argentina, India, Kazakhstan, and Indonesia, where Binance has received regulatory authorization.
Brazil’s crypto adoption is accelerating, with the country ranking second in Latin America for cryptocurrency activity. A recent Chainalysis report revealed that Brazil handled over $90.3 billion in cryptocurrency transactions in 2024.
Guilherme Nazar, Binance’s head of Latin America, highlighted Brazil’s progressive regulatory efforts:
“The [Brazilian] government has put forth a comprehensive proposal of rules for public consultation, inviting both the industry and society to provide their suggestions. This collaborative approach should culminate in the publication of the final regulations by mid-year, according to central bank officials.”
Binance Maintains Market Leadership
With a 24-hour trading volume of over $18.2 billion, Binance continues to dominate the global crypto exchange market, significantly outpacing competitors like Bybit, which reported $6.3 billion in daily trading volume, according to Messari data.
Brazil’s regulatory advancements signal a maturing crypto ecosystem in Latin America, which could pave the way for broader adoption and innovation. As Binance strengthens its presence in the region, its latest achievement may encourage other crypto firms to follow suit, fostering a more competitive and regulated marketplace.
