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Warren Targets Meta in Push To Ban Big Tech From Stablecoin Market
Senator Elizabeth Warren is pushing to amend the GENIUS Act to prohibit large corporations from issuing #stablecoins, specifically targeting Meta.
The Massachusetts Democrat stated, "No Senator should vote to make it easier for Big Tech to pry into our financial transactions."
Meta's communication director Andy Stone responded that "Diem is 'dead'" and "There is no Meta stablecoin."
Warren and other Democratic senators also questioned Treasury officials about Binance's interactions with the government.
The lawmakers expressed concern about Binance's increasing business ties with World Liberty Financial, which is connected to President Trump.
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