Elizabeth Warren demands Meta reveal stablecoin integration details by May 20 ahead of the Clarity Act vote in the Senate.
Sen. Elizabeth Warren has called on Meta to fully disclose its stablecoin plans before the Senate votes on the Clarity Act, a bill aimed at regulating cryptocurrency activity. Warren, a top Democrat on the Senate Banking Committee, warned that Meta’s stablecoin ambitions could impact competition, privacy, and financial stability, urging CEO Mark Zuckerberg to provide details by May 20.
The Clarity Act, which would legalize most crypto-related activities in the U.S., has faced delays but may soon advance to a vote. Meta recently launched a program paying creators in USDC, a stablecoin pegged to the U.S. dollar, following reports of plans to integrate third-party stablecoins for in-app payments later this year.
Warren’s letter emphasizes the need for lawmakers to understand Meta’s stablecoin strategy before finalizing legislation. Meta has not yet responded to the request for disclosure.