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U.S. lawmakers: The essence of the Libra project has not changed and it is still considered a security that needs to be regulated by the SEC.
Recently, a council member from Houston, Texas, and a member of the House Financial Services Committee expressed views on the latest changes to the Libra crypto assets project. The council member believes that, despite the new adjustments made to Libra, its essence remains unchanged, still qualifying as a security that derives its value from a "currency basket," in accordance with the definition of the Howey test.
The member stated that many questions regarding the Libra project remain unanswered, including its development purpose and the potential impact on the global economy and consumers. He emphasized that he will continue to pay attention to this matter and ensure that relevant regulatory agencies can effectively regulate such assets according to existing securities laws.
Regarding the latest modifications to the Libra project, the legislator believes that this does not fundamentally change its characteristics as a stablecoin security. He stated that he would continue to work to ensure that the Securities and Exchange Commission ( SEC ) can appropriately regulate such assets.
This statement reflects the ongoing concern and cautious attitude of some government officials towards Crypto Assets projects. As the Crypto Assets field continues to evolve, how to strike a balance between innovation and regulation remains an important topic for all parties to discuss.