Binance’s regulatory milestone shows how regulatory frameworks can unlock new opportunities in Kenya

This achievement marks Binance’s 21st global regulatory milestone, further solidifying its status as the cryptocurrency exchange with the greatest number of licenses, registrations, and authorizations across the world.

Brazil: Embracing the Future of Finance

By receiving full approval for the takeover of Sim;paul – a licensed broker-dealer authorized to distribute securities and to issue electronic money (EMI) by the Central Bank of Brazil, Binance, which was already operating in compliance with the regulatory requirements in the country as a global exchange, can be more efficient in complying with the ongoing regulatory advancements. The approval also makes Binance the first crypto exchange to have a broker-dealer license in Brazil.

This milestone demonstrates how forward-thinking regulatory frameworks can support innovation, fostering a secure and inclusive financial ecosystem. The potential for crypto to drive financial inclusion and digital transformation is vast, particularly in markets like Kenya, where mobile money has already set the stage for widespread fintech adoption.

Richard Teng, Binance's Chief Executive Officer, highlighted the importance of this achievement, saying, "We are thrilled to announce our latest regulatory approval. A market with burgeoning crypto adoption, Brazil is home to a vibrant and dynamic community that is readily embracing the future of finance. We thank local regulators for their commitment to defining clear rules for this important, growing industry."

He adds, "This approval underscores our commitment to compliance and security, and we look forward to continuing to provide our local users with a secure, reliable, and innovative platform for their digital-asset needs."

Ranking 10th in Chainalysis global adoption index, Brazil is taking a forward-looking approach to setting specific rules for the crypto industry. The Central Bank and the Brazilian IRS have published proposals for a dedicated regulatory framework, putting it up for public consultations for market participants and experts to make suggestions, while in Congress legislators discuss federal bills on asset segregation and stablecoins, which are also relevant for the sector.

Markets across the globe are recognising the role of digital assets in shaping the future of finance. As seen in Brazil, clear regulatory frameworks can unlock new opportunities for businesses and users alike. Kenya, with its strong fintech ecosystem, is well-positioned to benefit from similar developments, driving innovation and financial inclusion through crypto and blockchain adoption.

Starting 2025 on a High Note

Binance's registration in Brazil follows other recent regulatory advancements across the globe this year, including in Argentina, India, Kazakhstan, and Indonesia. This dynamic showcases Binance’s sustained global momentum and adds to previously secured licenses, registrations, and authorizations in jurisdictions like Dubai, France, Japan, El Salvador, and others.

In line with its global standards, our compliance program includes robust anti-money laundering (AML) policies and controls and a comprehensive framework for combating the financing of terrorism (CFT). In addition to that, key components of Binance's compliance program include robust identity verification processes (Know Your Customer and Know Your Business, or KYC and KYB) and the industry-leading Financial Crime Compliance (FCC) unit, designed to assist law enforcement in investigating crypto asset-related crimes and capacity building, thereby strengthening the collaborative security of the ecosystem.

Furthermore, Binance has expanded their global compliance team by 34% to 645 full-time employees, including strategic senior hires. The company employs over 1,000 compliance staff and contractors, ensuring the company dedicates sufficient resources to drive Binance and the larger crypto ecosystem’s growth sufficiently and responsibly.