Foreign media: Libra hearings or focus on Libra specific definitions and regulatory, privacy and security issues

According to The Block on July 13th, Kristin Smith of the lobbying company's Blockchain Association revealed that the US Congress's hearing on Libra may focus on Libra's specific definition, regulation, how to deal with systemic risks and privacy issues. US Congress staff is considering reviewing Libra to determine whether it meets the definition of securities, equity derivatives or ETFs, how Libra is protected, and how to prevent and respond to the economic systemic risks it poses. At the same time, Libra's headquarters in Geneva, Switzerland, will also cause regulators to worry that this will limit US regulation of the project. The privacy issues that Libra brings are also a concern for most legislators. These issues are all issues that may need to be discussed at a hearing held by the US Senate Banking Committee for Facebook Libra Bank on July 16. Earlier, David Marcus will attend the US Senate Banking Committee's hearing for Facebook Libra Bank on July 16.