U.S. Congressman: Libra update does not change its essence and should still be regarded as a security.

A council member from Houston, Texas, recently expressed views on the latest version of the Libra project. This member, who is also part of the House Financial Services Committee, pointed out that despite updates to Libra, its essence remains unchanged. He believes that the new version of Libra still derives its value from multiple currencies, and therefore should still be regarded as a security under the Howey test standard.

The congressman stated that although the Libra project team announced a series of modifications, these changes did not fundamentally alter the security attributes of the Libra stablecoin. He emphasized that there are still many questions unresolved about why such a cryptocurrency needs to be developed and how it will affect the global economy and consumers.

In response to this situation, the legislator stated that he will continue to work to ensure that relevant regulatory agencies can effectively regulate such assets in accordance with current securities laws. He believes that only in this way can the interests of investors and consumers be protected, while maintaining the stability of the financial markets.

This statement reflects the regulatory agencies' ongoing concern regarding emerging cryptocurrency projects such as Libra. Although the Libra team continues to adjust its plans to meet regulatory requirements, regulatory agencies still seem to remain vigilant about its potential risks. This also highlights the importance and challenges of finding a balance between innovation and regulation.