Maxine Waters Raises Concerns About Meta Platforms’ Digital Asset Plans
Maxine Waters, the top Democrat on the House Financial Services Committee, has expressed concerns about Meta Platforms, formerly Facebook, potentially reentering the digital asset space. In a letter to CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan, Waters highlighted five trademark applications filed by the company over the past year that are related to digital assets.
Past Criticisms of Meta’s Crypto Ventures
Waters has been critical of Meta’s previous foray into cryptocurrency, particularly its Libra stablecoin project. She previously urged a moratorium on the project due to privacy and national security concerns. Despite Meta staff claiming no ongoing work on digital assets, Waters pointed out that the trademark applications suggest otherwise.
Questions for Meta Platforms
In her letter, Waters posed questions to Meta Platforms regarding its future projects and whether it plans to launch a cryptocurrency-supporting payments platform. She did not specify a timeline for a response. At the time of writing, Meta had not provided any comment on the matter.
Hot Take: Maxine Waters Seeks Clarity on Meta Platforms’ Digital Asset Plans
Maxine Waters, the leading Democrat on the House Financial Services Committee, has raised concerns about Meta Platforms (formerly Facebook) potentially reentering the digital asset market. This comes as she highlights trademark applications filed by the company related to digital assets. Waters has previously criticized Meta’s involvement in cryptocurrency and called for a halt to its Libra stablecoin project due to privacy and security worries. Despite previous claims by Meta staff that there was no ongoing work in this area, Waters points out that trademark applications suggest otherwise. She now seeks answers from Meta Platforms regarding its future plans and potential cryptocurrency-related initiatives.
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