On July 5th, Circle CEO Jeremy Allaire commented on the "United States House of Representatives Democrats sent a letter to Facebook calling for a suspension of Libra development" comment: I want to tell Maxine Waters (President of the House Financial Services Committee) that you need to listen and Learning because (encryption) technology is developing at an alarming rate. This is not just an experimental project at an early stage, it is not just a blank page on Facebook. Thousands of engineers are constantly building things around the world—it can't stop, it's growing, and it's still growing. What I want to say is that it is time for policymakers to learn, because this is a major breakthrough in the global economy. Remarks: According to previous reports, US House Democrats, including Maxine Waters, issued an open letter to Facebook on Tuesday calling for a moratorium on all Libra development.