According to recent media reports, Circle CEO Jeremy Allaire recently said in an interview with Bloomberg that Facebook's Libra will implement a closed-loop licensing system with its own requirements for regulation. Allaire said that the stable currency operating under a closed-loop licensing mechanism is different from the stable currency monitoring method running on the public Internet. From the current public information, Libra belongs to the former, while Circle and Coinbase jointly release stable. The USDC belongs to the latter. In addition, Allaire expressed the hope that Libra can promote the development of national digital asset policies.