Binance Secures 21st Global Regulatory Authorization from Banco Central do Brasil
A Milestone in Crypto Adoption in Latin America
In a significant development for the cryptocurrency industry, Binance, the world’s largest crypto exchange, has secured its 21st global regulatory authorization. This latest approval comes from Banco Central do Brasil, the central bank of Brazil, marking a major milestone for crypto adoption in Latin America.
Binance’ s Latest Approval as a Licensed Broker-Dealer
Binance was approved as a licensed broker-dealer in Brazil, the most populous country in Latin America. The 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), according to an announcement shared with Cointelegraph.
A Significant Milestone for Crypto Adoption in Brazil
The approval makes Binance the first crypto exchange to obtain a broker-dealer license in Brazil. This development is seen as a significant step forward for the adoption of cryptocurrencies in Brazil, which has been making progress on crypto regulation in recent times.
Binance’ s Global Regulatory Presence
Binance’s 21st regulatory approval comes after receiving licenses in Argentina, India, Kazakhstan, and Indonesia. The exchange’s global presence and compliance with regulations have been a key factor in its success.
Brazil’ s Progress on Crypto Regulation
Brazil is making significant strides in crypto industry regulation, according to Guilherme Nazar, head of Latin America for Binance. He told Cointelegraph:
"The [Brazilian] government has put forth a comprehensive proposal of rules for public consultation, and they invited 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."
Crypto Adoption in Brazil
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’ s Pioneering Approach to Crypto Regulation
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 pioneering approach to crypto regulation has been instrumental in establishing Brazil as a hub for cryptocurrency adoption in Latin America.
The Future of Crypto Adoption in Latin America
Binance’s latest approval is a significant development for the cryptocurrency industry in Latin America. As the region continues to make progress on crypto regulation, it is likely that we will see increased adoption and innovation in the space.
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Binance’ s 24-Hour Trading Volume Exceeds $18.2 Billion
At the time of publication, Binance’s 24-hour trading volume exceeded $18.2 billion, nearly triple Bybit’s $6.3 billion daily volume in second place, according to data from Messari.
Latin America’ s Crypto Adoption
The region is making significant strides in crypto adoption, with Brazil ranking second in terms of crypto adoption in Latin America. The country has received over $90.3 billion worth of value through cryptocurrency in 2024, according to an Oct. 9 Chainalysis report.
Top Countries in Terms of Global Crypto Adoption
Four of the top 20 countries in terms of global crypto adoption are from Latin America, namely Brazil, Mexico, Venezuela, and Argentina.
Brazil’ s Pioneering Approach to Crypto Regulation
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.
The Future of Crypto Adoption in Latin America
As the region continues to make progress on crypto regulation, it is likely that we will see increased adoption and innovation in the space.
Related News
- Top Crypto Investments in 2025: Bitcoin, AI Projects, Tokenized Assets
- Redemption Arcs of 2024: Ripple’s Victory, Memecoins’ Rise, RWA Growth
- Bitcoin ‘Demand Shocks’ Looming, Ripple Stablecoin, and More: Hodler’s Digest, Dec. 8 – 14
Subscribe to the Law Decoded Newsletter
Stay up-to-date with the latest news and developments in crypto regulation with our weekly newsletter. Delivered every Monday, our newsletter provides expert analysis and insights on the key issues affecting the cryptocurrency industry.
Subscribe Now
By subscribing, you agree to our Terms of Service and Privacy Policy.
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