Binance Secures 21st Global Crypto License in Brazil

January 2, 2025June 18, 2025 EquityExplained

Binance Secures 21st Global Regulatory Authorization in Brazil

In a significant development for the cryptocurrency industry, Binance has secured its 21st global regulatory authorization from Banco Central do Brasil, the central bank of Brazil. This approval marks a major milestone for crypto adoption in Latin America and underscores the growing recognition of digital assets by governments around the world.

Table of Contents

Binance’s Approval as Licensed Broker-Dealer in Brazil

Binance, the world’s largest cryptocurrency exchange, 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), according to an announcement shared with Cointelegraph.

A First for Crypto Exchanges

The approval makes Binance the first crypto exchange to obtain a broker-dealer license in Brazil. This achievement is a testament to Binance’s commitment to regulatory compliance and its efforts to establish itself as a leading player in the global cryptocurrency market.

Binance’s Dominance in Trading Volume

At the time of publication, the 24-hour trading volume on Binance exceeded $18.2 billion, nearly triple Bybit’s $6.3 billion daily volume in second place, according to data from Messari. This impressive trading volume is a reflection of Binance’s growing popularity and its ability to attract a large user base.

Brazil’s Progress in Crypto Regulation

Brazil is making significant strides in crypto industry regulation, with the government putting forth a comprehensive proposal of rules for public consultation. The collaborative approach taken by the Brazilian authorities should culminate in the publication of final regulations by mid-year, according to central bank officials.

Quoting Guilherme Nazar, Head of Latin America for Binance

In an interview with Cointelegraph, Guilherme Nazar, head of Latin America for Binance, expressed his views on Brazil’s regulatory efforts: "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."

Brazil’s 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.

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.

Conclusion

Binance’s 21st regulatory approval is a significant milestone for crypto adoption in Latin America and underscores the growing recognition of digital assets by governments around the world. As the cryptocurrency industry continues to evolve, it is essential for regulators to work collaboratively with industry stakeholders to establish clear guidelines and regulations that promote innovation while ensuring consumer protection.

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