Binance has obtained its 21st global regulatory authorization in Brazil, with the approval of the Central Bank of Brazil for the acquisition of a licensed brokerage firm.

Binance, a leading provider of blockchain and cryptocurrency infrastructure globally, has obtained approval from the Central Bank of Brazil in the country with the largest population in Latin America, to acquire a local brokerage institution holding a license. This move highlights Binance's achievement of the 21st compliance milestone globally.

As a global exchange, Binance has previously operated in compliance with the requirements of the Brazilian regulatory authorities. Through the acquisition of Sim;paul, a licensed broker authorized to distribute securities and issue electronic money (EMI) approved by the Central Bank of Brazil, Binance will be able to more effectively comply with evolving regulatory requirements. At the same time, this approval also makes Binance the first cryptocurrency exchange in Brazil to hold a broker license.

Binance CEO Richard Teng emphasized the importance of this achievement, stating, 'We are pleased to announce the latest regulatory approval. As a market with continuously increasing adoption of cryptocurrencies, Brazil's vibrant community is ready to embrace the future of finance. We appreciate the efforts of the local regulatory authorities in establishing clear rules for this important and growing industry. This approval once again demonstrates our commitment to compliance and security, and we look forward to continuing to provide a secure, reliable, and innovative digital asset platform for local users.'

Brazil ranks tenth in the global encryption adoption index of Chainalysis, and it takes a proactive approach to establish clear rules for the encryption industry. The Central Bank of Brazil and tax authorities have proposed a dedicated regulatory framework for the encryption industry, and publicly solicited the opinions of market participants and experts. At the same time, the country's Congress is also discussing federal bills related to asset segregation and stablecoins, which have significant implications for the industry.

Binance's Latin American head, Guilherme Nazar, commented: 'This approval highlights an important milestone in our continued expansion of products and services in Brazil, reflecting our commitment to excellence in compliance and regulation, while enhancing our ability to provide safe and innovative financial solutions for Brazil's growing user base. We look forward to seizing this opportunity to further promote the popularization of digital assets in Brazil and create unparalleled value for our customers.'

Binance's registration in Brazil is one of a series of regulatory developments it has recently obtained globally, including in Argentina, India, Kazakhstan, and Indonesia. This indicates Binance's ongoing momentum worldwide. Previously, Binance has also obtained licenses, registrations, and authorizations in jurisdictions such as Dubai, France, Japan, and El Salvador.

Under its global standards, Gate.io's Compliance program includes a robust Anti-Money Laundering (AML) policy and control measures, as well as a comprehensive framework to combat the financing of terrorism (CFT). In addition, Gate.io's Compliance program also includes robust identity verification procedures (Know Your Customer and Know Your Business, KYC and KYB), as well as an industry-leading Financial Crime Compliance (FCC) department. The department aims to assist law enforcement agencies in investigating crimes related to encryption assets and building capacity, thereby enhancing collaborative security in the ecosystem.

Binance recently announced plans to expand its global Compliance team by 34% to 645 full-time employees, including strategic senior hires. The company currently employs over 1,000 Compliance staff and contractors.

This article Binance has obtained the 21st global regulatory authorization in Brazil, and the Brazilian central bank has approved the licensed securities firm acquisition, which first appeared in Chain News ABMedia.