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.