Singapore is also a country that has a huge income for every native and immigrant, allowing bitcoin to grow rapidly there, and it is possible to achieve status as a Bitcoin hub and become bigger like El Salvador.
It's possible.
But just to let you know that they've been strict lately and that's why Binance has to make a certain service specifically for them just like their US customers.
Although that doesn't necessarily mean that they're stopping a crypto exchange's operation within their jurisdiction. It is that they're becoming stricter than usual.
The possibility is because that there's now a larger market from the crypto market and that's what they have to do filter transactions coming in and out from their country.