Japan's Financial Services Agency (FSA) is considering a criminal investigation into the Solana-based memecoin Sanae Token, named after Prime Minister Sanae Takaichi. Launched by NoBorder, a DAO led by businessman Yuji Mizoguchi, the token has seen its market cap surge to nearly $28 million. However, the FSA has raised concerns over NoBorder's lack of a crypto exchange permit and potential legal violations under the Payment Services Act. Prime Minister Takaichi has publicly distanced herself from the token, stating she has no knowledge of it and that her office has not approved the project. Despite NoBorder's claims that Sanae Token is a political movement supporting Takaichi's policies, the FSA is scrutinizing its tradability on decentralized exchanges like Raydium, which could classify it as a cryptocurrency under Japanese law. The FSA's investigation could lead to significant legal repercussions for NoBorder if violations are confirmed.