Issuer Of SANAE TOKEN: Press Conference By KATAYAMA Satsuki, Japan Minister Of Finance And Minister Of State For Financial Services

Let me ask a question of you as the Minister of State for Financial Services. There are reports that the FSA is considering an investigation into the issuer of SANAE TOKEN, a crypto-asset named after the Prime Minister Takaichi Sanae. Could you please give us the facts surrounding this case and how you view it as the Minister of State for Financial Services?

First of all, as for SANAE TOKEN, Prime Minister Takaichi herself posted on X yesterday, so that the public would not be mistaken, that she was completely uninvolved and that she had not given any approval for it. As such, the Prime Minister has nothing to do with this matter. Also, in general terms, as for whether or not this is an issue of crypto-asse issuance, there are no specific complaints, so at the moment there are no victims. At this point, we are only confirming what this specifically is and the fact that it has not become such a significant issue. The FSA should know what it needs to know, and it is definitely not in a situation where there are complaints from victims. At the very least, the Prime Minister has nothing to do with this matter, and at the moment I do not know whether any further measures are necessary. However, if necessary, we will certainly do what is necessary in the future.

Does that mean that the FSA currently does not feel the need for an investigation, or rather, it has not made that determination?

Generally speaking, if you sell a crypto-asset to a counterparty, it falls under the category of a crypto-asset exchange business. However, the FSA has not been contacted about SANAE TOKEN and does not know what is going on. We also do not know if it is accessible. But what the FSA has to do is protect users and make sure it is following the laws and regulations. We will do all of these things right and completely, but I don’t think we’re at that point.

Is the FSA considering issuing a warning regarding SANAE TOKEN?

The widespread use of this crypto-asset leading to complaints is entirely different from the current Takaichi Sanae Takaichi boom causing its emergence — this time it’s the latter. In response, the Prime Minister personally stated via X that she has absolutely no connection to SANAE TOKEN, and I have retweeted that post. I believe the Prime Minister has millions of followers. I also have 500,000 followers. This fact, that the Prime Minister has nothing to do with this matter, is well known online and has been reported in the news. It would be fine to issue a warning regarding SANAE TOKEN to the public by the FSA, but since the use of this crypto-asset has not spread to that extent, I think the current warning is sufficient at this stage.