As the DeFi and crypto space continues to evolve rapidly, staying informed about the latest developments and trends is essential. Our weekly recap provides a concise yet comprehensive overview of significant news in this field.
Binance Becomes First Licensed Crypto Broker-Dealer in Brazil
Binance has obtained a broker-dealer license from Brazil’s central bank, becoming the first crypto exchange licensed in the country. This milestone, Binance’s 21st global regulatory approval, includes acquiring 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 May Add Cryptocurrency Trading to E*TRADE
Morgan Stanley is reportedly 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 E*TRADE in 2020 for $13 billion, solidifying its reputation as a top platform for various investment products.
Do Kwon Pleads Not Guilty in U.S. Court Over Terra Collapse
Do Kwon, co-founder of Terraform Labs, pleaded not guilty on January 2, 2025, to nine charges tied to the Terra ecosystem's collapse. Extradited from Montenegro, Kwon was arrested in March 2023 with fake documents while trying to board a private jet. Despite resisting extradition and favoring South Korea, Montenegro handed him over to U.S. authorities on December 31, 2024.
The past week was filled with significant events in the DeFi and cryptocurrency world. New licenses, addition of cryptocurrency products on traditional platforms, and legal issues all indicate the dynamic development of the industry.
