Japan PM Takaichi Denies Sanae Token as Memecoin Hits $28M

What to Know

$27.7 million — The Solana-based Sanae Token briefly reached this market cap on February 25 before crashing
Japan PM Sanae Takaichi publicly denied any involvement with the token, saying she had zero knowledge of it
Japan's FSA is reportedly weighing a probe into whether unregistered operators were behind the token's issuance
$7 million — The token's market cap at the time of writing, a sharp decline from its peak

The Sanae Token, a Solana-based memecoin bearing the name of Japanese Prime Minister Sanae Takaichi, briefly soared to a market capitalization of roughly $27.7 million on February 25 before collapsing after Takaichi publicly rejected any connection to the cryptocurrency. Japan's Financial Services Agency is now considering a probe into the parties behind the token's launch.

Takaichi Issues Public Denial on X

Prime Minister Sanae Takaichi stated in a post on X that she had absolutely no knowledge of the so-called Sanae Token and that her office had never been informed about the cryptocurrency. No approval of any kind had been granted, she added.

Takaichi said the statement was necessary to prevent public misunderstanding given the token's use of her name. The Sanae Token hit its $27.7 million peak on February 25, according to crypto data tracker Gmgn, before sliding sharply after her denial. At the time of reporting, its market capitalization stood at approximately $7 million.

Due to the name, it seems there are various misunderstandings, but regarding this token, I have absolutely no knowledge of it, nor has my office been informed about what this token entails.
— Sanae Takaichi, Prime Minister of Japan

Is Japan's FSA Investigating the Sanae Token?

Japan's Financial Services Agency is reportedly considering an investigation into the operators behind the Sanae Token's issuance, according to Kyodo News on Tuesday. The regulator is weighing a probe to confirm the relevant facts, though no formal investigation has been publicly announced as of March 4.

The company involved may lack the registration required to issue crypto assets in Japan. Under the Japan Payment Services Act, crypto asset exchange service providers must register with the FSA. Operating without proper registration can draw regulatory scrutiny, particularly where consumer protection concerns arise.

Political Memecoins Draw Scrutiny Worldwide

Tokens referencing political leaders have sparked volatile price swings and regulatory backlash across multiple countries. In the United States, President Donald Trump's team announced the launch of an official Trump memecoin on January 17, 2025. That token briefly climbed to approximately $73 before dropping roughly 95%, trading near $3.40 at the time of writing.

In Argentina, the Solana-based Libra token ignited an international scandal in February 2025 after President Javier Milei promoted it on X shortly after its debut. The token surged above $4.50 within minutes before crashing below $0.20 within hours, triggering allegations of a pump-and-dump scheme.

What This Means Going Forward

The Sanae Token affair highlights the growing risk that unauthorized memecoins tied to public figures pose to investors. If the FSA proceeds with a formal investigation, it could set a precedent for how Japan enforces crypto registration requirements. Market participants should watch for an official regulatory statement in the coming days.