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Elizabeth Warren writes to Zuckerberg seeking transparency on Meta's integrated stablecoin payment plan
According to Fortune, U.S. Senator Elizabeth Warren wrote a letter to Meta CEO Mark Zuckerberg on Wednesday, expressing concerns about Meta’s recent launch of a stablecoin pilot program on Facebook and accusing the plan of “lack of transparency.” Previously, Meta quietly rolled out a stablecoin payment feature based on Circle USDC among some creators in Colombia and the Philippines. Warren pointed out in the letter that, given Meta’s large user base, its stablecoin activities could have a “serious impact” on market competition, privacy, payment system integrity, and financial stability. A Meta spokesperson responded that the company has repeatedly clarified to Warren that there is currently no “Meta stablecoin,” and its original intention is to allow users to make payments using third-party stablecoins.