A cryptocurrency using the name of Japanese Prime Minister Sanae Takaichi briefly reached a market value of around $27.7 million before falling sharply after Takaichi publicly denied any connection to the token.
In a statement posted on X, Takaichi said he had no knowledge of the “Sane Token,” adding that neither he nor his office had approved it. He said that this clarification has been issued to prevent public misunderstanding.
“Because of the name, there seems to be various misunderstandings, but regarding this token, I have absolutely no knowledge about it, nor has my office been told what this token includes,” he wrote.
The Solana-based crypto token briefly reached a market capitalization of $27.7 million on February 25, according to crypto data tracker Gmgn. After Takaichi’s refusal, its value and market cap declined sharply. At the time of writing, the market capitalization of the token was around $7 million.
FSA Considers Investigating Tokens
Japan’s Financial Services Agency (FSA) is reportedly considering investigating parties involved in the token’s issuance.
According to Kyodo News on Tuesday, the regulator is considering investigating the relevant operators to verify the relevant facts. The FSA has not publicly announced a formal investigation.
Related: The Bank of Japan is testing blockchain settlement for bank deposits in a new sandbox.
The company involved may lack the registration required to issue crypto assets in Japan, the report said.
Under Japan’s Payment Services Act, providers of crypto-asset exchange services are required to register with the FSA. Operating without proper registration may attract regulatory scrutiny, particularly where consumer protection concerns arise.
Political name tokens are globally vetted.
Tokens referencing public figures have emerged in a number of jurisdictions during recent speculative market cycles.
In the US, tokens referencing President Donald Trump have periodically gained traction before the president has announced an official token.
On January 17, 2025, Trump’s team announced the launch of an official Trump meme coin. The token briefly rose to around $73 before falling sharply. At the time of writing, it trades around $3.40, about 95% below its peak.
In Argentina, the Solana-based Libra token sparked an international scandal in February 2025 when President Javier Meli promoted it to X shortly after launch.
On February 18, 2025, the token rose above $4.50 within minutes and fell below $0.20 within hours, prompting allegations of a pump and dump scheme.
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