Summary
Maxine Waters, the top Democrat on the House Financial Services Committee, has expressed concern over Meta Platforms’ (formerly Facebook) filing of trademark applications related to digital assets. Waters, who has been critical of Meta’s involvement in cryptocurrency, sent a letter to CEO Mark Zuckerberg and COO Javier Olivan asking for answers. Despite previous claims that Meta had no ongoing digital asset work, the trademark applications suggest otherwise. Waters questioned Meta about its future projects and whether it plans to launch a cryptocurrency payments platform. Meta has not yet responded to the letter.
Key Points
1. Maxine Waters, the top Democrat on the House Financial Services Committee, expressed concern over Meta Platforms’ involvement in digital assets and sent a letter to CEO Mark Zuckerberg and COO Javier Olivan regarding trademark applications related to digital currencies and blockchain technology.
2. Waters previously criticized Meta’s Libra stablecoin project and called for a moratorium on its development due to privacy and national security concerns. Despite Meta’s claims that it had ceased work on digital assets, the trademark applications suggest otherwise.
3. Waters requested information from Meta about its future projects and whether it plans to launch a payments platform supporting cryptocurrency. The company has not yet responded to the congresswoman’s inquiries.