Democratic lawmakers sent a letter to Meta questioning its role in the stablecoin program

2025-06-12 01:33:08

On June 12, CoinDesk reported that Democratic Senators Elizabeth Warren and Richard Blumenthal sent a letter to Meta asking if it lobbied for the GENIUS Act or if it planned to join stablecoin issuers in any way, and asked Meta to explain what it was doing to integrate stablecoins into its system. “If Meta controls its own stablecoin, the company could further spy on consumer transactions and business activities,” the Democratic lawmakers wrote in the letter. The vast amount of consumer data it will acquire could help Meta implement surveillance pricing schemes on its platform, more intrusive targeted advertising, or monetize by selling sensitive private information to third-party data brokers." As reported by Fortune magazine last month, Meta is considering using stablecoins for payments.

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