Meta's Stablecoin Plan Questioned by Democrats Ahead of Key Senate Vote

Senate Democrats Elizabeth Warren and Richard Blumenthal want Meta to explain what its stablecoin plans are.In a letter sent to the social media giant on Wednesday, the lawmakers asked the company formerly known as Facebook to detail its stablecoin ambitions and pointed to previous reports about issues Meta has had with scams, "alleged anticompetitive conduct," and privacy issues.Meta is considering using stablecoins for payments, Fortune reported last month."If Meta controlled its own stablecoin, the company could further pry into consumers’ transactions and commercial activity," the letter said source: https://www.coindesk.com/policy/2025/06/11/metas-stablecoin-plan-questioned-by-democrats-ahead-of-key-senate-vote