according to an article I read that a MAS Spokesperson said the ban was likely because Binance, the operator of Binance.com violated the Payment Services Act for providing services without a compliant license. Binance did not apply for a license according to applicable regulations
obviously greatly affects the price of BNB because Binance is the largest cryptocurrency exchange platform in terms of volume. Binance has come under pressure from regulators around the world for fear of crypto being used in money laundering practices and the high risks faced by consumers.