Senator Elizabeth Warren has asked Meta Platforms CEO Mark Zuckerberg to explain reports that the company plans to test stablecoin payments in the coming months. In a letter sent this week, she said bringing stablecoins to Facebook, Instagram, WhatsApp, and Messenger could affect competition, privacy, and financial stability across Meta’s 3.5 billion-user network.
Questions center on payments, data, and advertising
Warren said Meta’s earlier Libra project drew bipartisan opposition over surveillance and market power concerns. She argued that transaction data linked to stablecoin use could strengthen Meta’s advertising business and expand its reach in digital payments. She also asked whether Meta could favor one stablecoin over other payment options available on its platforms.
Her letter warned that a large rollout could carry broader risks if users rushed to withdraw funds during market stress. It also pointed to May 2025 reports saying Meta had explored stablecoin payouts with crypto firms. At that time, Meta reportedly told Warren and Senator Richard Blumenthal that it had no plans to issue its own stablecoin.
Partner review, MetaPay, and indirect influence
Warren said Meta still had not explained its commercial relationships with third-party stablecoin providers. She asked whether MetaPay could eventually hold stablecoin balances rather than only payment credentials. She also requested disclosure on whether Meta has already chosen stablecoins for the reported “small and focused trial”, along with details on risk controls, profit-sharing arrangements, and whether Meta could indirectly influence stablecoin operations.
The letter also focused on anti-money laundering controls. Warren asked how Meta plans to manage AML compliance tied to stablecoin activity and whether the company strengthened illicit finance safeguards before starting any integration effort. She requested a full account of Meta’s review process for selecting stablecoin partners, including what features it wants and what risks it is trying to avoid.
Congress seeks transparency during crypto legislation talks
Warren said lawmakers need transparency while Congress debates cryptocurrency legislation. She argued that Meta’s scale gives any payments integration much wider significance for the U.S. financial system. The letter also referenced Meta’s past scrutiny over privacy practices, children’s safety, and antitrust issues, all of which add weight to the latest questions.
She asked the company to answer seven detailed questions by May 20, 2026. Warren also requested confirmation on whether Meta still rejects any plan to issue its own stablecoin or private digital currency.