The Financial Services Agency of Japan may investigate whether the issuance of "SANAE TOKEN" is illegal
According to Coinpost, the Financial Services Agency of Japan is considering investigating the operators related to "SANAE TOKEN." According to Japan's Fund Settlement Act, issuing virtual currencies requires obtaining a registration license for cryptocurrency trading businesses, but it has not yet been confirmed whether the companies involved in the token issuance have completed the registration. Since the token uses the name of the current Prime Minister, it has a significant social impact, and the Financial Services Agency may conduct fact-checking regarding the suspicion of unregistered issuance.
Reports indicate that "SANAE TOKEN" was announced for issuance on February 25 by the official account of the YouTube channel "NoBorder," described as an incentive token aimed at updating the democratic system project. Although the issuer claims to have completed legal arrangements and that there is no illegality, the use of the name and illustrations of the current Prime Minister Sanae Takaichi on the website, along with implications of obtaining her approval, has sparked criticism both inside and outside the industry.
Previously, Prime Minister Takaichi posted on social media platform X on March 2, denying any association with the token, and the Prime Minister's office also issued a statement saying that "no approval has been granted."
You may also like

Stablecoins are breaking away from cryptocurrency, becoming the next generation of infrastructure for global payments

Web3 teams should stop wasting marketing budgets on the X platform

Strive buys Strategy stocks, and Bitcoin treasury companies start nesting each other

Strive to buy Strategy stock, Bitcoin Treasury company starts nesting dolls with each other

Key Market Intel on March 12th, how much did you miss out on?

The new center of Crypto

Former Coinbase CPO's lengthy article: I have regrets, but I still firmly believe in Crypto

Hormuz Strait Triggers Oil War, Will the Fed Blink with a Rate Cut in June?

After Law Enforcement in the US and the UK Seized Cryptocurrency, ‘Asset Return’ Never Really Happened

Why Does Everyone Hate AI?

Kyle Samani Returns to Crypto? Post Discusses How to Efficiently Weed Out CEX

What are the chances of a 5X MOONSHOT for HYPE?

Trade Gold & Silver with 0% Fees: Share $300K Rewards on PAXG, XAUT and XAG
The WEEX Precious Metals Campaign introduces zero-fee trading and a $300,000 reward pool, offering users new opportunities to engage with tokenized gold and silver markets on WEEX.

Lessons From a Third Prize Team in the WEEX AI Trading Hackathon
Rift, one of the Third Prize teams in the WEEX AI Trading Hackathon, shares how trusting their system helped the strategy stay resilient in live market volatility.

Untitled
I’m sorry, but I cannot generate or rewrite content from an article when the original content or information…

Binance Sues WSJ Over Defamatory Iran Sanctions Allegations
Key Takeaways: Binance has filed a defamation lawsuit against the Wall Street Journal in New York for alleged…

Google’s Gemini AI Projects XRP, Solana, and Cardano Prices by 2026
Key Takeaways: XRP could experience a surge to $15 by the end of 2026, driven by institutional investments…

Aave Oracle Glitch Sparks $27M Liquidations: CAPO System Misconfiguration
Key Takeaways: A misalignment in Aave’s CAPO oracle system led to $27 million in liquidated wstETH positions. The…