For years, Binance went about its business unbothered to comply with financial regulations, and very few regulators looked its way. Then, the exchange\u2019s house of cards\u00a0started crumbling\u00a0under regulatory scrutiny in an increasingly growing number of countries. Singapore recently joined the long list of regulators going after Binance, banning it from providing payment services and placing it on the Investor Alert List. Elsewhere, South Africa has issued a warning against Binance, stating that the cryptocurrency exchange is not authorized to operate in the country. The Financial Sector Conduct Authority in South Africa announced that the Binance Group \u201cnot authorized to give any financial advice or render any intermediary services in the country.\u201d https:\/\/twitter.com\/FSCA_ZA\/status\/1433695108122169361 According to the FSCA, Binance has been allowing South African residents to access its trading platform. This is despite the exchange not being authorized to provide any financial services. In addition, digital currencies are not regulated, and investors should be wary when dealing with Binance and other non-licensed platforms as they could lose all their money, the FSCA stated. Some banks in South Africa have already started prohibiting transactions with Binance. As CoinGeek\u00a0reported, Absa Bank barred its clients from purchasing digital currencies on Binance, claiming that it was non-compliant. Singapore bans Binance, orders it to cease services The Monetary Authority of Singapore (MAS), which is the central bank of the Southeast Asian nation, has also banned Binance.com from offering unlicensed payment services. In a statement, an MAS spokesperson claimed that after reviewing the exchange\u2019s operations, it determined that it was in breach of the Payment Services Act. Binance has been providing payment services to Singaporeans and soliciting business from them without an appropriate license. MAS has also placed Binance on the Investor Alert List to warn Singaporeans that it\u2019s not regulated to serve them. It joins 699 other firms on the list which are not licensed to serve in the country but have given investors the impression that they are. The spokesperson added, \u201cBinance is required to cease providing payment services which are regulated under the PS Act to Singapore residents and cease soliciting such business from Singapore residents.\u201d This has prompted the beleaguered exchange to announce that it would be ceasing Singapore dollar trading pairs and payment options, effective September 10. The company will also remove the Binance app from Singapore iOS and Google Play stores on that day as part of its bid \u201cto remain compliant with local regulations.\u201d Users are advised to complete all transactions and remove related trade advertisements by September 9 to avoid potential trading disputes. https:\/\/twitter.com\/binance\/status\/1434471844904640513?s20 Binance has been offering services to Singaporeans under Binance.sg, an exchange that\u2019s operated by Binance Asia Services. BAS has submitted a license application to the central bank and is currently exempted from holding a license for the provision of digital payment token services, according to a\u00a0report by the local financial daily Business Times. According to the spokesperson, this license application is under review by the regulator and is \u201csubject to it demonstrating that it is able to meet requirements under the PS Act.\u201d He added, \u201cMAS has been engaging BAS and expects BAS to immediately begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance. BAS will inform its customers of the appropriate arrangements as soon as practicable.\u201d Binance.sg was quick to dissociate itself from its parent company, Binance Global, pointing out that it\u2019s an independent firm. \u201cBinance Singapore (Binance.sg) is a separate legal entity from Binance.com with its own local executive and management team and does not offer any products or services via the Binance.com website or other related entities, and vice versa,\u201d it told the newspaper. In its response, Binance Global, which is led by all-too-controversial Changpeng Zhao, who himself resides in Singapore, stated that it\u2019s \u201cactively working with the MAS to address concerns that they may have through constructive dialogue.\u201d As CoinGeek\u00a0reported, Binance has been seeking investment from Vertex Ventures, a subsidiary of Singapore\u2019s sovereign wealth fund Temasek. And to further strengthen its\u00a0theatrics of commitment to compliance, the exchange appointed a former director of corporate finance at the MAS as the CEO of Binance Singapore. Follow\u00a0CoinGeek\u2019s Crypto Crime Cartel\u00a0series, which delves into the stream of groups\u2014a from\u00a0BitMEX\u00a0to\u00a0Binance,\u00a0Bitcoin.com,\u00a0Blockstream,\u00a0ShapeShift,\u00a0Coinbase,\u00a0Ripple\u00a0and Ethereum\u2014who have co-opted the digital asset revolution and turned the industry into a minefield for na\u00efve (and even experienced) players in the market.