Singapore Orders Binance to Halt Services

Binance, a major crypto exchange, is facing regulatory issues in Singapore for violating MAS rules by providing unlicensed services. The company has been added to the Investor Alert List, and warnings have been issued to consumers. This scrutiny is significant as Binance's CEO resides in Singapore, adding higher stakes to the situation. Binance is also under global scrutiny from regulators in the USA and UK.

What are the implications of the company not applying for the appropriate license?

How has the global scrutiny of the exchange affected its operations?