American Lawmakers Pressure Meta for Crypto Clarity
Democratic representative Maxine Waters and a team of US lawmakers are demanding transparency from Meta, expressing concerns about the company’s crypto and blockchain plans.
Letter Seeks Clear Answers
Waters, ranking member on the House Financial Services Committee, has written a letter to Meta executives, seeking concrete details about the company’s potential crypto exchange and how it will integrate with Facebook and Instagram.
Concerns over Trademark Applications
Waters highlighted Meta’s trademark filings, raising questions about the company’s statements to the Committee. She pointed out the contradiction between the filings and Meta’s claim of no ongoing digital assets work.
Trademark Filings and Notice of Allowance (NOA)
Meta’s trademark applications cover various crypto-related services. Each filing has received a NOA, indicating compliance with registration requirements. Meta has until June 16 to file a statement to use the trademark.
Key Questions for Meta
Waters wants detailed responses from Meta regarding their NOA response, plans for Web3, crypto projects, a crypto payments platform, research on stablecoins, potential partnerships, adoption of DLT, and how technology can facilitate crypto functions within the metaverse.
Hot Take: Lawmakers Demand Meta’s Crypto Clarity
A team of US lawmakers, led by Maxine Waters, is pressuring Meta to reveal its crypto and blockchain plans. Waters, through a letter, demands clear answers from Meta regarding its potential crypto exchange, integration with Facebook and Instagram, and transparency in their dealings. Concerns are also raised over Meta’s trademark filings and the apparent contradiction with their statements. The lawmakers seek detailed responses on a range of topics, including Web3, crypto payments, stablecoins, partnerships, and the use of distributed ledger technology. The pressure is on for Meta to provide clarity and address the lawmakers’ concerns.
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