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Stablecoinsin Cryptocurrency
3 hours ago

Circle's USDC expands to XRP Ledger, enabling real-time crypto transactions, while Tether strengthens its position by acquiring a significant stake in a gold royalty firm, signaling growth in stablecoin utility and diversification.

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US senators question Meta’s stablecoin plans amid GENIUS Act debate

CointelegraphWednesday, June 11, 2025 at 7:41:51 PM
US senators question Meta’s stablecoin plans amid GENIUS Act debate
US senators are grilling Meta (formerly Facebook) about its stablecoin ambitions, specifically asking CEO Mark Zuckerberg whether the company had any hand in shaping the GENIUS Act—a bill that could pave the way for Meta to launch its own digital currency. The scrutiny comes as lawmakers weigh the risks and benefits of Big Tech diving deeper into financial services.
Editor’s Note: This isn’t just about Meta—it’s part of a bigger debate over how much power tech giants should have in finance. Stablecoins (crypto tied to stable assets like the dollar) could revolutionize payments, but if companies like Meta control them, it raises questions about privacy, competition, and even financial stability. Lawmakers are clearly wary of a repeat of Facebook’s ill-fated Libra project, and they’re not letting this one slide without scrutiny.
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