- Congresswoman Maxine Waters wrote a letter to Meta executives relating to re-entering the crypto area.
- The letter highlighted the corporate's 5 trademark functions associated to cryptographic companies and blockchain know-how.
- Waters requested for extra readability about their intentions given previous troubles within the meta universe.
In a latest letter to know-how conglomerate Meta's CEO Mark Zuckerberg and COO Javier Oliván, Congresswoman Maxine Waters questioned the corporate's intentions relating to a possible re-entry into the crypto area. did.
The letter highlighted 5 trademark functions filed by the enormous with the US Patent and Trademark Workplace (USPTO) relating to blockchain know-how and cryptographic companies.
The lawmaker's considerations are associated to Meta's earlier abandonment of plans to ascertain a cryptocurrency service in 2022. In mid-2019, the corporate scrapped plans to launch a crypto-based funds platform, Diem (Libra), in view of regulatory opposition. In late 2022, Meta offered Diem to Silvergate Capital Company for $200 million and exited the cryptocurrency trade.
Over the previous 12 months, Meta has filed 5 trademark functions, underscoring the corporate's imaginative and prescient to develop its involvement within the crypto area. Nonetheless, ambiguity arises when this contradicts statements from Mehta's spokesperson. Mr Waters mentioned:
Though these trademark functions point out that there are particular services and products associated to the digital asset work that Meta does, Meta's workers filed a criticism with the Democratic Monetary Companies Committee on October 12, 2023. In interactions with (Committee) workers, they claimed that there have been no digital belongings in progress. I work at Meta.
MartyParty, a distinguished voice within the blockchain area, shared his insights with X about Water’s letter and its influence on Meta’s proposal.
Waters stays pessimistic about Meta's re-entry into the crypto economic system, particularly contemplating its previous. Waters' battle with Meta's involvement in cryptocurrencies started in 2019, when Meta introduced its Libra proposal.
On the time, she mentioned, “Fb continues its unchecked growth with its announcement that it plans to create a digital forex… There’s a lack of a transparent regulatory framework.”
In a latest letter, Waters requested Meta to make clear its software and its intentions to enter the digital area. He additionally requested if the platform is contemplating launching a crypto fee platform, stressing the necessity for transparency.
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