Japan's Financial Services Agency may investigate whether the issuance of "SANAE TOKEN" violates regulations

Deep Tide TechFlow News, March 3 — According to Coinpost, Japan’s Financial Services Agency is considering investigating the operators related to “SANAE TOKEN.” Under Japan’s Fund Settlement Law, issuing virtual currencies requires registration as a cryptocurrency exchange operator, but it has not yet been confirmed whether the companies involved in the token issuance have completed registration. Because the token uses the name of the current Prime Minister, it has significant social impact, and the FSA may verify the facts regarding unregistered issuance.

Reports state that “SANAE TOKEN” was announced on February 25 by the official account of the YouTube channel “NoBorder,” described as an incentive token aimed at updating democratic systems. Although the issuer claims to have completed legal procedures and that there is no illegality, the use of the current Prime Minister Sanae Takaichi’s name and illustration on the website, along with hints of her approval, has sparked criticism both inside and outside the industry.

Previously, Prime Minister Sanae Takaichi posted on social platform X on March 2, denying any connection to the token. The Prime Minister’s Office also issued a statement saying, “No approval has been granted.”