Meta's Stablecoin Plan Questioned by Democrats Ahead of Key Senate Vote

Meta's Stablecoin Plan Questioned by Democrats Ahead of Key Senate Vote

Sens. Elizabeth Warren and Richard Blumenthal sent a letter to Meta asking whether it's lobbied for the GENIUS Act or has any plans to join an issuer in any way.

US senators question Meta’s stablecoin plans amid GENIUS Act debate

Lawmakers asked Mark Zuckerberg whether Meta had had any influence on the GENIUS stablecoin bill and its plans to potentially issue its own digital currency. ...

Senators Slam Meta's Stablecoin Push, Cite Privacy Risks and Regulatory Loopholes – MAXBIT

Democratic Senators Elizabeth Warren and Richard Blumenthal issued a letter to Meta CEO Mark Zuckerberg, raising concerns over reports that the tech giant is once again exploring the launch of its own stablecoin. In the letter, the senators warn that Meta’s renewed interest in digital currency, reminiscent of its failed Libra and Diem initiatives, could...

Meta Could Launch Private Currency With GENIUS Act Loophole, Say Senators - Crypto Economy

TL;DR Meta is reportedly preparing to revive its plans for a private stablecoin, taking advantage of a legal gap in the recently passed GENIUS Act. Critical senators argue that the move could centralize even more financial power within a single tech company. Still, Meta’s renewed interest in digital assets represents a major step toward broader adoption of crypto solutions at scale. Meta, the tech giant behind Facebook, Instagram, and WhatsApp,…

Is Meta Planning a Secret Stablecoin? Senators Warren and Blumenthal Demand Answers

Senators demand Meta disclose stablecoin plans, citing risks to privacy, competition, and U.S. financial control.