Japan's New Economic Union proposes the Financial Services Agency to reconsider regulatory policies on STO and crypto derivatives

The Japan New Economic Union put forward four opinions to the Japan Financial Services Agency on the regulatory policies of STO and cryptocurrency derivatives, as follows: 1. Exempt the requirement of "electronic record transfer right". According to the existing Cabinet Office Regulations, STO private placement requires individuals to have assets of more than 100 million yen as a condition, which sets up obstacles for STO private placement;

2. Want to balance the balance of the system with reference to US securities regulations;

3. The cryptocurrency derivative leverage is set to four times the current level, or for different currencies;

4. Point out how to calculate the market risk equivalent, counterparty risk equivalent and basic risk equivalent of financial instrument operators.