Why is Binance removing XMR?

Could you please elaborate on the reasons behind Binance's decision to delist Monero (XMR)? It seems to be a rather significant move given the popularity and established position of XMR in the cryptocurrency market. Is there a specific regulatory directive or security concern that has prompted this action? Additionally, how will this affect the traders and investors who have been utilizing Binance as a platform to trade XMR? Is there any alternative exchange that they can turn to for trading Monero? Finally, what does this removal signify for the future of Binance and its relationship with privacy-oriented cryptocurrencies in general?