<ul data-eligibleForWebStory="true"><li>Democratic senators express concerns over Meta's renewed stablecoin ambitions and potential partnerships with crypto firms for payment functionality.</li><li>They warn that a Meta-controlled stablecoin could threaten financial privacy, distort competition, and give excessive power in U.S. monetary flows.</li><li>Issues raised include data exploitation for advertising, pricing manipulation, and market dominance concerns across Meta's platforms serving 3.5 billion daily users.</li><li>Previous failures like Libra and Diem are cited as examples of risks in allowing Big Tech to experiment with private currency despite regulatory challenges.</li><li>Lawmakers demand transparency on Meta's crypto strategy and question if the company influences crypto regulation through lobbying efforts.</li><li>Concerns about bypassing oversight by reviving past initiatives under new names or structures lead to requests for detailed information on Meta's stablecoin-related activities since January 2025.</li></ul>

Senators Press Zuckerberg Over Renewed Meta Stablecoin Ambitions

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