Meta rolled out a stablecoin pilot on Facebook last week following years of false starts, and it didn’t take long before a familiar antagonist took notice. On Wednesday, Sen. Elizabeth Warren (D-Mass.) delivered a letter to Meta CEO Mark Zuckerberg calling its “lack of transparency” surrounding its stablecoin plans “troubling” and seeking answers to a range of questions surrounding Meta’s stablecoin integration, according to a copy of the letter obtained by Fortune.
In the letter, the ranking member on the Senate Banking Committee argued that given Meta’s massive global userbase, any kind of stablecoin activity on the platform could have “serious implications for competition, privacy, the integrity of our payments system, and financial stability.”
