US Committee Probes Meta's Crypto Involvement
The United States House Financial Services Committee is intensifying its scrutiny of Meta's involvement in blockchain and cryptocurrency, prompted by active trademark applications related to these domains since 2022. In a letter dated January 22, Maxine Waters, the committee's ranking member, addressed Meta's founder Mark Zuckerberg and COO Javier Olivan, questioning the discrepancy between the company's trademark filings and their denial of ongoing digital asset work in October 2023. Meta's previous plans for the Diem cryptocurrency and the Novi digital wallet have faced setbacks. Waters seeks clarity on Meta's response to Notices of Allowance for trademark filings, its projects related to Web3, cryptocurrency, and digital wallets, as well as its stance on stablecoins and distributed ledger technology within its metaverse. Meta has not yet responded to these inquiries.🔥🍻🤙