YEREVAN (CoinChapter.com) — Binance has secured its 21st global crypto license, gaining approval from Banco Central do Brasil, Brazil’s central bank. This approval makes Binance the first crypto exchange in Brazil to obtain a broker-dealer license. The license allows Binance to acquire São Paulo-based Sim;paul, an investment platform authorized to distribute securities and issue electronic money (EMI).
The broker-dealer license reinforces Binance’s ability to operate in Brazil’s regulated financial ecosystem. It also reflects the growing importance of regulatory compliance in expanding crypto services globally. Binance has previously obtained similar approvals in countries like Argentina, India, Kazakhstan, and Indonesia.
Brazil’s Crypto Regulation Moves Forward
Brazil has been actively working on cryptocurrency regulations. According to Guilherme Nazar, Binance’s head of Latin America, the Brazilian government has introduced a comprehensive proposal for public consultation. This process invites feedback from both the crypto industry and the public. Final regulations are expected by mid-2025, based on statements from the central bank.
The license approval comes amid Brazil’s increasing role in cryptocurrency adoption. A report by Chainalysis in October 2024 highlighted that Brazil received over $90.3 billion in cryptocurrency value that year, ranking second in Latin America.
LATAM countries by crypto value received. Source: ChainalysisBrazil is also recognized for pioneering financial products in the crypto space. In August 2024, it became the first country to approve a spot Solana (SOL) exchange-traded fund (ETF), setting a precedent for other jurisdictions.
Binance Maintains Leadership in Trading Volume
Binance continues to dominate global cryptocurrency trading. According to Messari, Binance recorded a 24-hour trading volume of $18.2 billion at the time of publication. This figure is nearly three times higher than Bybit, the second-largest exchange, which reported $6.3 billion in trading volume during the same period.
Top crypto exchanges by 24-hour trading volume. Source: MessariThis trading volume emphasizes Binance’s global reach and the significance of securing licenses in countries like Brazil, where cryptocurrency adoption is growing rapidly.
Latin America’s Role in Global Crypto Adoption
Latin America includes four of the top 20 countries for global cryptocurrency adoption: Brazil, Mexico, Venezuela, and Argentina. These nations have played an essential role in the region’s increasing crypto adoption rates.
Brazil leads the region with significant progress in regulation and financial innovation. The broker-dealer license granted to Binance is another step toward integrating cryptocurrency into Brazil’s regulated financial system.
