U.S. Congressman: The essence of Libra has not changed, it can still be regarded as a security.

A city council member from Houston, Texas, who is also a member of the House Financial Services Committee, recently expressed his views on the latest version of the Libra project. He pointed out that although Libra has been updated, its essence remains to derive value from a combination of multiple currencies, and therefore it can still be considered a security under the Howey test standard. The council member denied the claim that the latest adjustments to Libra could fundamentally change the security characteristics of its stablecoin.

In response to the latest amendment announcement released by the Libra Foundation, the legislator expressed his position. He emphasized that there are still many unanswered questions about why such a cryptocurrency needs to be developed and how it will affect the global economy and consumers. He pledged to continue working to ensure that relevant regulatory agencies can adequately regulate such assets in accordance with current securities laws.

This statement reflects the ongoing attention and cautious attitude of some government officials towards cryptocurrency projects. Although the Libra project is continuously adjusting to meet regulatory requirements, it still faces scrutiny and challenges from policymakers. This also highlights the complexity of seeking a balance between innovative financial technology and the existing regulatory framework.

In the future, how cryptocurrency projects find a balance between compliance and innovation will be key to the development of the industry. Ongoing dialogue and collaboration between regulators, project teams, and market participants are crucial for building an ecosystem that promotes innovation while protecting consumer interests.