American Hearing | University of California Professor: Libra has currency risk, it is better to use US dollars directly

Babbitt News, at 2 pm Beijing time on July 30, the US Senate Banking Committee held a hearing to discuss current and potential regulation of the cryptocurrency and blockchain industries. Mehrsa Baradaran, a professor at the University of California, Irvine Law School, said: “The blockchain is a blockchain. We are talking about the above digital assets. The currency and chain need to be treated differently. The popularity of cryptocurrencies may be realized, but we have more A simpler way to fill the financial gap. It can be understood that many cryptocurrencies try to replace the US dollar, and they can understand their frustration. Libra is a bit like the gold standard dollar, but it is supported by a basket of currencies." Members asked: “Libra is supported by a basket of currencies. Is there no currency risk?” Mehrsa Baradaran replied: “You are right, it’s risky, it’s better to use dollars directly. Most of it includes Bitcoin. Both cryptocurrencies are meant to be a substitute for the dollar, and we should get power back to the Fed."