BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Congress Investigates Meta’s Digital Currency Expansion Amid Market Concerns

by Sham
January 25, 2024
in Breaking News, Business, Crypto
A A
Congress Investigates Meta’s Digital Currency Expansion Amid Market Concerns
1
SHARES
Share on TwitterShare on Reddit
  • Congresswoman Maxine Waters has written to Meta executives questioning their involvement with digital assets, citing several trademark applications suggesting Meta may expand into cryptocurrencies and blockchain technology
  • Waters questioned if Meta will move forward with the trademark applications and requested details on stablecoin research, partnerships, and adoption of distributed ledger technology, as well as any plans to launch a crypto payments platform
  • Waters pointed to the failed Diem (Libra) cryptocurrency project as an example of Meta’s past digital asset ambitions, expressing concerns over financial stability should Meta pursue new blockchain and digital currency ventures

Congresswoman Maxine Waters has initiated an investigation into Meta‘s involvement with digital assets over financial stability concerns. She wrote a letter to top Meta executives highlighting several trademark applications that suggest the company may expand into digital currencies and blockchain technology.

JUST IN: 🇺🇸 Congresswoman Maxine Waters to investigate Meta's digital asset activities

Requesting the following information:

– Meta's involvement in web3

– Digital wallets

– Stablecoin projects amidst financial stability concerns pic.twitter.com/0TjvddDFtl

— BlockNews.com (@blocknewsdotcom) January 23, 2024

Trademark Applications Raise Questions

The trademark applications filed with the USPTO cover services related to digital assets, cryptocurrency management, blockchain hardware/software development, and financial trades/exchanges of digital currencies. Despite Meta’s previous statement that it has no blockchain or stablecoin projects in the works, these filings seem to contradict that claim.

Clarification Requested on Intentions and Activities

In her letter, Waters questioned whether Meta will move forward with the trademark applications and requested details on the extent of its research into stablecoins, partnerships, and adoption of distributed ledger technology. She also asked if Meta plans to launch a crypto payments platform given its past attempts at developing digital currency projects.

Concerns Over Past and Potential Ventures

Waters pointed to the failed Diem (formerly Libra) cryptocurrency project as an example of Meta’s digital asset ambitions. Diem faced immense regulatory backlash over issues like privacy and national security. Meta’s response to the lawmaker’s inquiries will shed light on its strategies regarding blockchain and digital currencies going forward.

Tags: BusinesscryptoDigital CurrencyMaxine WatersMeta
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

$TAO Is Back With a Vengeance: Bittensor is About to Explode and Here is Why
Crypto

$TAO Is Back With a Vengeance: Bittensor is About to Explode and Here is Why

May 9, 2025
Crypto

Everything You Need to Know About $DOOD: A New Era for Doodles and Its Ecosystem

May 9, 2025
Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next
Crypto

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

May 8, 2025
Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement
Crypto

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do
Crypto

Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?
Crypto

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Load More

Related News

Hedera on the Move: Why Analysts Are Eyeing a Major $HBAR Comeback?

Hedera on the Move: Why Analysts Are Eyeing a Major $HBAR Comeback?

May 9, 2025
$TAO Is Back With a Vengeance: Bittensor is About to Explode and Here is Why

$TAO Is Back With a Vengeance: Bittensor is About to Explode and Here is Why

May 9, 2025

Everything You Need to Know About $DOOD: A New Era for Doodles and Its Ecosystem

May 9, 2025
Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

May 8, 2025
Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.