Binance Continues Global Expansion By Obtaining Brazilian License
Binance has secured its 21st global regulatory license after receiving approval by the Brazilian Central Bank. This approval enables Binance to expand its global services while complying with local financial regulations.
A Crypto Leader
Binance CEO Richard Teng emphasized just how important Brazil is in the global crypto landscape, while Guilherme Nazar, Head of Latin America, highlighted the achievement as a sign of Binance being fully committed to regulatory compliance and excellence.
In any case, Brazil is becoming a leader in crypto regulation, ranking 10th on the Global Crypto Adoption Index by Chainalysis while also developing frameworks for asset segregation and stablecoins.
Room For Improvement
Besides Brazil, Binance has also gained regulatory approvals in Argentina, India, and Kazakhstan. The company also focuses on robust anti-money laundering (AML) measures and expanded its compliance team by 34%, now employing over 1,000 professionals worldwide.
Despite its regulatory progress, Binance still faces various legal challenges, including lawsuits by ASIC in Australia in addition to tax issues in India, along with accusations of internal misconduct. Nevertheless, the crypto exchange is enjoying continued regulatory success across 21 jurisdictions.
Top News
21 hours ago
7 days ago
11 days ago
13 days ago
More From The News
Press Releases
Payments
New Payment Limit For Crypto Wallets Scrapped
The recent Anti-Money Laundering re... Read more
Bitcoin
Bitcoin Undergoes Price Correction As International Economies
A significant portion of the crypto... Read more
Join Our Newsletter
Get the latest trends and updates on our crypto community.