This is good to do, because it can increase cryptocurrency growth in the world in general. Singapore is indeed a small country, but the country is very rich. And many people become Cryptocurrency traders. of course this will make it easier for them to treat trade. And maybe this will attract new traders, who were initially hesitant to trade Cryptocurrency in the region.
Based on my observation, it seems to me like smaller developed countries are the ones really keying in to this cryptocurrency of a thing, because for binance to have gone to Singapore to have their physical presence there, then the government of Singapore would have allowed that being a crypto friendly zone.
Look at where they moved their head office to too, which is Malta, Malta is also a very small country and I learnt that they are also crypto friendly, if these countries sees nothing wrong in crypto, why is America and other large countries feeling threatened about it, and I guess it is just because they want to keep staying in control.