Binance was ordered to stop soliciting Singapore users by MAS. Binance took various measures to assure MAS that it was no longer doing so, including geo-blocking Singapore IP addresses and removing its mobile application from Singapore app stores. As a result, Binance demonstrated beyond doubt that it was no longer soliciting and providing services to Singaporeans. In the event that Binance decides to remove some of these restrictions now, it must continue to comply with the prohibition against soliciting Singapore users without a license.
There are hundreds of these exchanges and thousands of offshore entities accepting non-crypto investments. It is impossible to list them all, and no regulatory body has done so.
A key lesson from FTX is that cryptocurrency trading is hazardous on any platform.
Crypto exchanges are not immune to failure. In Singapore, even if a crypto exchange were licensed, it would only be regulated to reduce money-laundering risks, not to protect investors. It is similar to the approach currently taken by most jurisdictions. Recently, MAS published a consultation paper proposing basic investor protection measures for crypto players licensed to operate in Singapore.