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US Lawmaker: Libra Still Considered a Security After Update, Commits to Promote Regulation
A congressman from Houston, Texas, recently expressed his views on the Libra Crypto Assets project. This congressman, who is also a member of the House Financial Service Committee, pointed out that despite recent updates to the Libra project, its essence still lies in deriving value from a combination of multiple currencies. He believes that under the Howey test criteria, Libra still falls within the category of securities.
The congressman denied the claim that the latest version of Libra fundamentally changed the securities nature of its stablecoin. He stated that there are still many unresolved questions regarding why such a Crypto Asset needs to be developed and how it will affect the global economy and consumers.
He promised to continue working to ensure that relevant regulatory agencies can properly supervise such assets in accordance with the current securities laws. This statement reflects the ongoing concern and cautious attitude of some government officials towards Crypto Assets projects, particularly large projects that could have a significant impact on the financial system.
This event has once again sparked discussions about the balance between the regulation of Crypto Assets, financial innovation, and consumer protection. As Crypto Assets and blockchain technology continue to evolve, how to ensure financial stability and protect consumer rights while encouraging innovation will remain an important issue for policymakers.