Tech Titan Meta (META) has been reported to have investigated the possibility of returning to the Stablecoin market after promoting US regulatory backlash over the past few years. Senator Elizabeth Warren, a US Senator, argued that a stable legislative bill was impossible for a stable legislature for Coin Desk.
A high -level encryption bill to establish US rules for US rules against Tether’s USDT and Circle’s USDC was navigated through the Senate through the Senate. The Democratic Party stopped the progress of the bill this week, including some people who supported the committee’s efforts. Warren says the national innovation and establishment of the US Stablecoins Act should change to prevent large corporations from issuing their own money.
The Massachusetts Democratic Party said in a statement in a statement, “The Senate must fix the genius law so that large and other commercial companies should prohibit or affiliate the Stablecoin company.” “The Senator should not vote for BIG TECH more easily in financial transactions or to treat small companies with small companies in the payment system.”
Six years ago, META tried to release its own encryption Stablecoin, Libra (later DIEM), and the gap between specific regulators and lawmakers made almost the finish line before derailment of the project. She is trying to restart the business again by Mark Zuckerberg, which gives Donald Trump’s inauguration fund, and is trying to restart the business again, saying, “If it was another attempt to control the money of the American people,” Zuckerberg was required to explain to Congress.
When asked about Warren’s opinion, META instructed COINDESK to post on Social Media Site X as follows. There is no meta -stable device. “
The genius law has now returned to negotiations, and some lawmakers hoped to reappear in the Senate early next week. In addition, the Congressman’s version can be similarly written through the process of the parliamentary lawmakers.
Binary and Treasury
Warren, the chief Democratic party of the Senate Banking Committee, was busy investigating the encryption sector, and joining his colleagues on Friday and trying to smooth the US law in the United States, which can still demand labor measures after the 2023 agreement in 2023. He questioned the interaction with Nance.
Five Democrats, including Richard Blumenthal, Chris Van Hollen, Mazie Horono and Sheldon Whitehouse, are Binance’s business ties with World Liberty Financial, and business with President Donald Trump and his family As I raised ties, I sent a letter to the officials about the exchange of exchange with the US government.
“It is not surprising to recognize his growth and interests in compliance with US laws because bad actors solve the industries that violate the money laundering and sanctions law. It is not surprising. Observing independent monitors.
Senator said, “Our concern about Binance’s obligations to comply with the regulations is much more urgent considering that the recent report is partnering with a foreign investment company using the Trump family’s stabilization device.”
A spokesman for Binance did not immediately respond to the request.
Further Read: Trump’s encryption prohibits President Memo Coin with fuel backlash and Bill.
Nikhilesh de has contributed to the report.
Update (May 9, 2025, 21:16 UTC): Add a response from the meta.