Rep. Maxine Waters (D-CA) sent a letter to Meta executives on Monday expressing concerns about recent filings related to digital asset services.
In a letter to Meta CEO Mark Zuckerberg and COO Javier Olivan, Waters said she was concerned about “the status of the filing of five trademark applications related to various digital asset services and blockchain technology” with the United States Patent and Trademark Office (USPTO).
Waters, the ranking member on the House Financial Services Committee, said that according to the filings, Meta appears to show a “continued intent” to expand its role in the digital assets market.
“Despite these trademark applications, which indicate that there are specific goods and services associated with Meta’s digital asset business, Meta staff confirmed on October 12, 2023, in communications with Democratic Financial Services Committee (FSC) staff, that there are no Continuous Digital said: “Assets operate in the meta.”
Waters demands answers on whether Meta is pursuing cryptocurrency exchange plans and how they might be implemented on its other platforms.
In 2019, Facebook revealed a plan to develop a cryptocurrency-based payments platform called Libra. A group of Democrats in the House of Representatives called on Facebook to halt its project at the time due to concerns they had about the security of the platform and user data.
Facebook later halted the plans after Zuckerberg testified about the cryptocurrency plan in 2019, according to Water's press release.
The Hill has reached out to Meta for comment.
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