Japanese PM Denies Ties to Sanae Token Amid Controversy

Japanese Prime Minister Sanae Takaichi has denied any involvement in the creation of a cryptocurrency token named after her, dubbed 'Sanae Token.'

The token was reportedly developed by individuals connected to businessman Ken Matsui and has links to Tsuyoshi Kinoshita, Takaichi's chief public secretary.

Kinoshita acknowledged that he had engaged in communications with business operators linked to Matsui but thought the term referred to app points rather than an actual cryptocurrency.

Takaichi's government has generally supported the development of Japan's Web3 and blockchain initiatives, including promoting tokenization and strengthening safeguards against fraud and unauthorized token issuance.