Recently, a city council member from Houston, Texas, who is also a member of the House Financial Service Committee, raised questions about the latest version of the Libra Crypto Assets. This council member believes that, despite the updates to Libra, its essence remains an asset that derives value from multiple currencies and should therefore still be regarded as a security under the Howey test standard.

The congressman stated that the latest modifications to Libra do not fundamentally change its attributes as a stablecoin. In response to the announcement from Facebook and the Libra Foundation regarding the recent adjustments to Libra, this politician expressed his views.
He pointed out in the statement: "There are still many unanswered questions, including the necessity of Facebook developing crypto assets and how this currency will impact the global economy and consumers. I will continue to work to ensure that relevant regulatory agencies can address this in accordance with current securities laws."