Binance Secures Its 21st Global Crypto License in Brazil

Binance Secures 21st Global Regulatory Authorization from Banco Central do Brasil

In a significant milestone for cryptocurrency adoption in Latin America, Binance has secured its 21st global regulatory authorization from the central bank of Brazil, marking a major breakthrough for crypto exchanges in the region.

Binance Obtains Broker-Dealer License in Brazil

Binance, the world’s largest crypto exchange by trading volume, has been approved as a licensed broker-dealer in Brazil, the most populous country in Latin America. This approval allows Binance to acquire São Paulo-based investment platform Sim;paul, a licensed broker-dealer authorized to distribute securities and issue electronic money (EMI). The acquisition of Sim;paul is a strategic move by Binance to expand its presence in Brazil and offer a wider range of services to local customers.

A Major Milestone for Crypto Adoption in Latin America

The approval makes Binance the first crypto exchange to obtain a broker-dealer license in Brazil, marking a significant milestone for crypto adoption in the region. The 24-hour trading volume on Binance exceeded $18.2 billion at the time of publication, nearly triple Bybit’s $6.3 billion daily volume in second place, according to data from Messari.

Brazil’s Progress on Crypto Regulation

Binance’s 21st regulatory approval comes after receiving licenses in Argentina, India, Kazakhstan, and Indonesia. Brazil is making significant strides in crypto industry regulation, with the government putting forth a comprehensive proposal of rules for public consultation. The central bank has invited both the industry and society to provide their suggestions, and it is expected that the final regulations will be published by mid-year.

Latin America’s Progress on Crypto Adoption

Brazil ranks second in terms of crypto adoption in Latin America, having received over $90.3 billion worth of value through cryptocurrency in 2024, according to an Oct. 9 Chainalysis report. Four of the top 20 countries in terms of global crypto adoption are from Latin America, namely Brazil, Mexico, Venezuela, and Argentina.

Brazil Sets a Global Precedent

Brazil was the first country to approve a spot Solana SOL exchange-traded fund on Aug. 7, 2024, setting a global precedent for other jurisdictions. This move has paved the way for other countries to follow suit, and it is expected that more countries will adopt similar regulations in the future.

The Future of Crypto Regulation

The approval of Binance’s broker-dealer license in Brazil marks a significant step forward for crypto regulation in the region. As more countries adopt similar regulations, it is likely that we will see increased adoption and growth of the cryptocurrency market. With its 21st regulatory authorization, Binance has solidified its position as a leading player in the global crypto market.

Key Statistics

• Binance’s 24-hour trading volume exceeded $18.2 billion at the time of publication
• Bybit’s daily trading volume was $6.3 billion, making it second to Binance in terms of trading volume
• Brazil received over $90.3 billion worth of value through cryptocurrency in 2024
• Four of the top 20 countries in terms of global crypto adoption are from Latin America

Conclusion

The approval of Binance’s broker-dealer license in Brazil marks a significant milestone for crypto adoption in Latin America. With its 21st regulatory authorization, Binance has solidified its position as a leading player in the global crypto market. As more countries adopt similar regulations, it is likely that we will see increased adoption and growth of the cryptocurrency market.

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