PANews reported on September 13th that according to Caixin, David A. Katz, Circle's Vice President of Strategy and Public Policy for Asia Pacific, stated at a forum in Singapore that digital assets must first ensure network security, with trading systems protected from hacker attacks. Secondly, digital assets must be backed one-to-one by real, high-quality, and highly liquid assets and held in custody by appropriate institutions. For example, approximately 90% of USDC's anchored reserves are held by BlackRock. Circle currently has over 900 employees, approximately 300 of whom are lawyers and compliance officers. Furthermore, digital assets such as stablecoins require government regulation to become part of the international financial system.