{"id":10301,"date":"2024-01-23T11:15:07","date_gmt":"2024-01-23T11:15:07","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=10301"},"modified":"2024-01-23T11:15:20","modified_gmt":"2024-01-23T11:15:20","slug":"maxine-waters-questions-metas-digital-assets","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/maxine-waters-questions-metas-digital-assets\/","title":{"rendered":"Maxine Waters Questions Meta’s Digital Assets"},"content":{"rendered":"

Maxine Waters, a top Democrat on the U.S. House Financial Services Committee, said she wants answers about Meta Platforms’ potential return to digital asset plans.<\/p>\n

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You might like: The Bitcoin ETF Approval: A Much Debated Topic<\/em><\/strong><\/span><\/a><\/p>\n<\/blockquote>\n

The Democrat sent a letter to CEO Mark Zuckerberg<\/strong> and Chief Operating Officer Javier Olivan on Monday expressing her concerns about the company’s five trademark applications related to digital assets filed last year.<\/p>\n

The applications were for projects including a digital currency exchange, designing blockchain-related computer hardware, and an “online social networking and dating” service that would allow for “cryptocurrency<\/strong> exchange and other forms of virtual currency.”<\/p>\n

Maxine Waters has criticized Meta’s entry into cryptocurrency<\/span><\/h2>\n

Maxine Waters has criticized Meta<\/strong>‘s entry into cryptocurrency, particularly its Libra stablecoin project. Facebook<\/strong> later said it planned to launch Libra, now known as Diem, in 2019, and this quickly sparked concerns among regulators and lawmakers who were hesitant about a stablecoin<\/strong> linked to the social media company.<\/p>\n

Before Diem’s demise, Waters said she and other lawmakers sent a letter to Meta in 2019 demanding a moratorium on ongoing work on the proposed digital wallet Libra<\/strong> and Calibra due to privacy and national security concerns.<\/p>\n

In her letter, Waters said a Meta employee told committee Democrats in October that “there is no ongoing digital asset work at Meta.”<\/p>\n

“Meta<\/strong> personnel indicated that the company is not currently conducting or planning any work on blockchain-based products<\/strong> or stablecoins<\/em>,” Waters said.<\/p>\n

“Meta personnel also asserted that Meta is not working with any partners to integrate stablecoins or cryptocurrency into any payment or Metaverse<\/strong> product, and is not conducting research and development in this area.”<\/p>\n

However, Waters said Meta’s trademark applications suggest that Meta<\/strong> did not cease operations after shutting down Diem.<\/p>\n

“The trademark applications filed by Meta in 2023 suggest that the company may be looking to revive its digital asset ambitions,” Maxine Waters said. “This is concerning given the potential risks associated with digital assets, including fraud, market manipulation, and consumer protection concerns.”<\/p>\n

Waters asked Zuckerberg<\/strong> and Olivan to provide the committee with a response to her letter by February 28.<\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Maxine Waters, a top Democrat on the U.S. House Financial Services Committee, said she wants answers about Meta Platforms’ potential return to digital asset plans. You might like: The Bitcoin ETF Approval: A Much Debated Topic The Democrat sent a letter to CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan on Monday expressing her<\/p>\n","protected":false},"author":1,"featured_media":10303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[192,3839,2416,211,3840],"class_list":["post-10301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-maxine-waters","tag-meta","tag-metaverse","tag-zuckerberg"],"yoast_head":"\nMaxine Waters Questions Meta's Digital Assets - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Maxine Waters said that she wants answers about Meta Platforms' potential return to digital asset plans in the cryptocurrencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/maxine-waters-questions-metas-digital-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maxine Waters Questions Meta's Digital Assets - 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