US Senators Send Letter to Mark Zuckerberg, Questioning Details and Regulatory Compliance Measures of Meta’s Stablecoin Business

According to The Block, U.S. Democratic Senators Elizabeth Warren and Richard Blumenthal have sent a letter to Meta CEO Mark Zuckerberg, stating that Meta may be updating its stablecoin plans. They are requesting Meta to provide information regarding its renewed engagement in the stablecoin business, including details about its current stablecoin initiatives, which companies it has consulted since January 2025, whether it plans to launch or co-develop a stablecoin, and which platforms might support such payments. The senators also inquired whether Meta has lobbied on cryptocurrency legislation such as the GENIUS Act or the STABLE Act, and whether it has participated in drafting provisions that could allow it to circumvent restrictions. Additionally, the lawmakers want to know how Meta’s new plans differ from its previous Libra and Diem projects, and what measures have been taken to address past regulatory concerns. The deadline for a response is June 17.

Previously, Facebook’s early stablecoin project Libra collapsed under regulatory pressure, but as the Trump administration is now more receptive to the industry, a number of major tech companies are once again exploring the adoption of stablecoins.