Why did they ban Binance?

Could you explain why Binance was banned? I've heard a lot of rumors, but I'm not sure what the real reasons are. Was it due to regulatory issues? Was there some sort of illegal activity? Or was it simply a matter of Binance not adhering to certain guidelines? I'm really curious to know the details behind this decision. It seems like a pretty significant move, and I'm interested in understanding the reasons behind it. Could you please provide some clarity on this matter?