The issuing organization of the cryptocurrency 'SANAE TOKEN' announced on the 4th that it will change the token's name and provide compensation to token owners. This decision comes after Prime Minister Sanae Takaichi publicly denied any involvement with the token on social media. The project, linked to entrepreneur Yuji Mizoguchi, is known as the 'Japan is Back Project' and aims to reflect user voices to policymakers, including the Prime Minister, for better policy development.

In addition to rebranding the token, the organization outlined several steps to address the situation. These include compensation for token owners, a review of the project, and the establishment of a verification committee composed of experts. This committee is intended to create preventive measures for the future and ensure transparency and accountability within the project. The organization expressed its commitment to improving communication and shared understanding with the Prime Minister and other policymakers in the wake of the controversy.

The public apology from the project was significant, as it acknowledged shortcomings in communication and highlighted the importance of maintaining trust and clarity in relations with government officials. The incident underscores the complexities of cryptocurrency projects in Japan, particularly in how they engage with political figures and the implications of public perception on their legitimacy and goals.