Warren Demands Meta Stablecoin Plan Details

Senator Elizabeth Warren, ranking member of the Senate Banking Committee, sent a letter on Wednesday to Meta CEO Mark Zuckerberg demanding details on the company's plans to integrate third-party stablecoins into its platforms.

Warren requested a written response by May 20 addressing the scope of Meta's ongoing small-scale trial, potential launch dates in the second half of 2026, specific stablecoins involved, and privacy protections. The inquiry follows Meta's April rollout of USDC payouts to select creators in the Philippines and Colombia, which uses third-party wallet addresses on Solana and Polygon blockchains.

In the letter, Warren expressed concerns over transparency, citing Meta's failed 2019 Libra project, later rebranded as Diem, which was abandoned in 2022 amid regulatory opposition from lawmakers and authorities worldwide. "It is critical that Meta be transparent with Congress and the public regarding its stablecoin-related plans," Warren wrote. She highlighted risks to competition, user privacy, payments system integrity, and financial stability, given Meta's 3.5 billion daily active users.

Meta spokesperson stated, "There is no Meta stablecoin. We want people and...