Overview
- Sen. Elizabeth Warren sent Meta CEO Mark Zuckerberg a letter that sets a May 20 deadline to answer seven questions on partners, privacy rules, anti–money laundering controls, fees, and any plan to issue a token.
- The inquiry followed reports that Facebook quietly tested paying some creators in Colombia and the Philippines in USDC, a cryptocurrency tied to the U.S. dollar, which required users to link outside wallet addresses.
- Meta said it is not launching a company‑branded coin and said people may be able to use third‑party stablecoins on its apps, repeating that “there is no Meta stablecoin.”
- Warren framed the stakes as regulatory and consumer protection issues, warning that Meta’s scale could steer which coins win and could expose users’ transaction data to ad targeting and other uses.
- The letter lands as the Senate Banking Committee moves the CLARITY Act on crypto market rules, and it revives scrutiny of Meta’s shelved Libra/Diem project while reported plans for broader in‑app stablecoin payments later in 2026 remain unconfirmed.