US lawmaker: After the update, stablecoins are still considered securities and the SEC should continue to regulate them.

Recently, a member of the House Financial Services Committee and a council member from Houston, Texas, expressed his views on the latest version of a crypto assets project. The council member pointed out that, despite the updates made to the project, its essence remains to derive value from a combination of various coins. Therefore, according to the Howey test standards, this crypto asset still falls under the category of securities.

The congressman denied that the latest updates to the project could fundamentally change the security attributes of its stablecoin. He emphasized that there are still many unresolved questions regarding why there is a need to develop such a Crypto Asset and how it will impact the global economy and consumers.

In response, the congressman issued a statement. He indicated that he would continue to work to ensure that the Securities and Exchange Commission ( SEC ) can regulate such assets in accordance with current securities laws. This position reflects the regulatory agency's ongoing vigilance towards emerging Crypto Assets projects.

This issue has sparked widespread discussion about the regulation of Crypto Assets. On one hand, innovative Financial Service projects may bring new vitality to the economy; on the other hand, finding a balance between encouraging innovation and protecting investors' interests has become an important challenge for regulators.

As the Crypto Assets industry continues to develop, similar discussions may become more frequent. Ongoing dialogue between regulators, project parties, and the public will help build a healthier and more transparent Crypto Assets ecosystem.