As the DeFi and crypto markets rapidly evolve, staying informed on the latest developments and trends is crucial. This weekly recap provides a concise yet comprehensive overview of the most significant news and trends.
Binance Becomes Licensed in Brazil
Binance has obtained a broker-dealer license from Brazil’s central bank, becoming the first crypto exchange licensed in the country. This involves acquiring the São Paulo-based investment platform Sim;paul. The license allows Binance to distribute securities and issue electronic money, expanding its services within Brazil's regulatory framework.
Morgan Stanley to Consider Crypto Trading on ETRADE
Morgan Stanley is exploring the addition of cryptocurrency trading to its ETRADE platform, potentially offering the service to its 5.2 million retail users. If implemented, this move would position ETRADE as one of the largest traditional financial platforms entering the crypto market. Morgan Stanley acquired ETRADE in 2020 for $13 billion.
Do Kwon Pleads Not Guilty Over Terra Case
Do Kwon, co-founder of Terraform Labs, pleaded not guilty to nine charges related to the Terra ecosystem's collapse in a U.S. court on January 2, 2025. He was extradited from Montenegro to the U.S. in December 2024 after being arrested in March 2023 on fake documents.
The past week brought significant developments in the DeFi and crypto world. Binance's license in Brazil opens new opportunities in Latin America. Morgan Stanley could strengthen its crypto presence through ETRADE. The legal proceedings against Do Kwon highlight the growing role of jurisdiction in cryptocurrency regulation.
