#BREAKING:

Meta is reportedly exploring the integration of stablecoins like USDC and USDT to facilitate creator payouts and cross-border transactions across its platforms, including Facebook and Instagram. This initiative marks a strategic shift from its previous attempt with the Diem project, focusing now on leveraging existing stablecoins to enhance payment efficiency without issuing its own digital currency.

In response, U.S. Senator Elizabeth Warren has called for amendments to the proposed Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act to prohibit large technology companies from issuing or affiliating with stablecoin ventures. She argues that allowing Big Tech firms like Meta to control stablecoins could pose risks to financial privacy and market competition.

The GENIUS Act, which aims to establish a federal regulatory framework for stablecoins, faced a setback when Senate Democrats blocked its advancement, citing concerns over national security, consumer protection, and potential conflicts of interest involving political figures.

As discussions continue, the intersection of technology, finance, and regulation remains a focal point in shaping the future of digital currencies in the United States.