US Senator questions Mark Zuckerberg about Meta’s stablecoin plans

Odaily Planet Daily News: U.S. Senator Elizabeth Warren from Massachusetts has sent a letter to Meta CEO Mark Zuckerberg, demanding answers regarding the integration of stablecoins. Elizabeth Warren stated that, given Meta's previous attempt to launch Libra, the lack of transparency surrounding the stablecoin plan is troubling. She has requested that Mark Zuckerberg provide details of the stablecoin pilot by May 20, including the launch date, third-party stablecoins involved, and privacy protection mechanisms.

In April, Meta introduced USDC payment functionality for a select group of creators in the Philippines and Colombia. The Senate Banking Committee is currently reviewing the CLARITY Act, which aims to establish a framework for digital assets.