U.S. Senators Question Mark Zuckerberg Over Meta's Stablecoin Plans

Odaily US Senator Elizabeth Warren of Massachusetts has sent a letter to Meta CEO Mark Zuckerberg, demanding answers regarding the integration of stablecoins. Elizabeth Warren expressed that, given Meta's previous attempt to launch Libra, the lack of transparency surrounding its stablecoin plans is disconcerting. She has requested that Mark Zuckerberg provide details of the stablecoin pilot by May 20, including the launch date, the third-party stablecoins involved, and the privacy protection mechanisms.

Meta launched USDC payment functionality for certain creators in the Philippines and Colombia in April. The Senate Banking Committee is currently deliberating on the CLARITY Act, which aims to establish a framework for digital assets.