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In late February 2026, a meme coin named "SANAE TOKEN," named after current Prime Minister Sanae Takaichi, suddenly appeared on Solana, creating a major impact on social media.
Its origins are said to have been the result of the "NoBorder DAO" community. This project, which aimed to combine politics and Web 3.0, quickly ran into the harsh reality of the situation.
On the evening of March 2nd, Prime Minister Takaichi himself issued a statement. He asserted on his X (formerly Twitter) account that he had "no knowledge of it at all" and "did not approve it," completely denying any involvement. It is unusual for a national leader to so unequivocally reject a specific digital asset. This statement sent the speculative atmosphere into a tailspin, and prices literally collapsed into the abyss.
The uproar did not remain limited to online outrage; it eventually spread to the very core of the nation. On March 4, the matter was discussed in the House of Representatives' Financial Services Committee, and Satsuki Katayama, who serves as both Minister of Finance and Minister of State for Financial Services in the Takaichi Cabinet, responded that "we will take appropriate action to protect users."
Furthermore, according to reports from Fuji TV and other media, the Financial Services Agency has also taken note of the fact that the service is not registered as a cryptocurrency exchange and has begun to investigate the situation. The operator promptly changed its name and announced a compensation policy, but the price of making the state take the matter seriously was too high.