Singapore Authorities Confirm Token2049 Organizer Not Subject to Russia Sanctions Despite A7A5 Participation

Singapore's financial regulators have clarified that Token2049 conference organizers faced no legal violations despite A7A5's participation, highlighting jurisdictional limitations in sanction enforcement. The Monetary Authority of Singapore (MAS) confirmed sanctions only apply to licensed financial institutions, not event organizers. A7A5's ruble stablecoin is backed by Promsvyazbank (PSB), a Russian state-owned bank under international sanctions. MAS emphasized that while Singaporean financial institutions are prohibited from transacting with sanctioned entities, non-financial companies fall outside these restrictions. Token2049's Hong Kong-based organization and China's lack of Russian sanctions further complicated the regulatory landscape, creating legal avenues for A7A5's conference involvement despite Western sanctions.