Japan's FSA mulls probe into meme coin named after PM Takaichi

Japanese financial authorities are considering launching a criminal investigation into a meme coin named 'Sanae Token' after the country's prime minister, DL News reported, citing an internal source at Japan's Financial Services Agency (FSA). The token was issued on the Solana blockchain in late February by NoBorder, a video production team and DAO operated by Japanese businessman and YouTuber Yuji Mizoguchi. According to Dextools data, it has a market capitalization of around $8 million. The NoBorder team reportedly did not have a license to operate a cryptocurrency exchange as of late January and has not submitted an application since. Prime Minister Sanae Takaichi stated on X that she has no knowledge of the token and that the government has not approved the project. She added that she has not received even a single yen in profit from it. The FSA is currently conducting interviews with related companies on a voluntary basis.