Meta Faces Scrutiny from US Senators Over Potential Stablecoin Plans

With the US Senate poised to vote on legislation regulating payment stablecoins soon, senators Elizabeth Warren and Richard Blumenthal have raised concerns about Meta’s potential plans for another stablecoin project. They urge CEO Mark Zuckerberg for transparency regarding Meta’s intentions, especially given the upcoming debate around the GENIUS Act. The lawmakers specifically requested information on any consulting firms or influence Meta may have exerted on the proposed legislation.