With the American Senate which should vote on legislation to soon regulate the stables of payment, two senators called the Meta-PDG Mark Zuckerberg to answer questions on the potential levels of the company to introduce another stablecoin.
In a Wednesday letter to Zuckerberg, Senators Elizabeth Warren and Richard Blumenthal said It was “more critical than ever than the congress and the public perfectly understand the extent of Meta’s plans” for the stablecoins, given the size of the technological society and the Voting expected on the law on engineering in the Senate.
The two legislators asked the CEO to provide information on all the companies with which Meta could have consulted concerning the Stablecoins in 2025 and all influence that it could have had on the Stable Stable Bill.
In particular, Warren and Blumenthal spoke of the Balance and Diem Stablecoin projects of Facebook, which the company closed in the midst of a generalized opposition from international regulators. In the letter, the senators expressed their concern concerning the American president Donald Trump issuing a derogation from META under the engineering law, allowing the company to “bypass” the regulations imposed on other stabbing issuers.
“If meta controlled its own stablecoin, the company could further write consumer transactions and commercial activity,” wrote the senators. “The massive amounts of data on consumers it would ingest could help the pricing regimes for fuel surveillance on its platform, more intrusive targeted advertising, or otherwise help the company to monetize sensitive private information thanks to sales to third-party data brokers.”
The letter followed reports suggesting that Meta was Explore integration Stablecoin payments on its platforms, which include Facebook, Instagram, Threads, Messenger and Whatsapp. Whether the company intends to use the stablecoin of transmitters like Tether or Circle – USDT and USDC, respectively – or continuing its own project was not clear at the time of publication.
In relation: The death of the Meta Stablecoin project was “100% political murder” – ex diem boss
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