Financial Services Agency Considers Investigating the Legality of 'SANAE TOKEN'—Reports

According to a report by Kyodo News on December 3, it has come to light that the Financial Services Agency is considering investigating parties involved with 'SANAE TOKEN'. Cryptocurrency issuance requires registration as a crypto asset exchange operator under the Payment Services Act, but no such registration has been confirmed for the companies involved. Given the significant social impact, including the use of the current Prime Minister's name, the Financial Services Agency is likely to initiate a fact-finding mission on the suspicion of unregistered issuance.