Senator | Crypto

Elizabeth Warren asked the Meta CEO to provide details on a stablecoin integration to the platform, a week after a small rollout to creators in Colombia and the Philippines. Massachusetts Senator Elizabeth Warren called on Meta CEO Mark Zuckerberg to answer questions about the company’s stablecoin integration in 2026, signaling concerns about guardrails. In a Wednesday letter to Zuckerberg, Warren said Meta’s lack of transparency regarding its stablecoin was “deeply troubling,” given the company’s previous plans to roll out Libra, a global stablecoin proposed in 2019 that was later rebranded to Diem. The senator said Meta’s plans were necessary for Congress to understand, given the US government’s efforts to pass a digital asset market structure bill with implications for stablecoin issuers. Read more

Kirsten Gillibrand said that the US Senate had to address lawmakers potentially getting “rich off of these industries because of their insider status“ before any vote on the CLARITY Act. US Senator Kirsten Gillibrand said lawmakers working towards passage of a digital asset market structure bill likely need to meet three conditions before the chamber could vote on the legislation. Speaking at the Consensus conference in Miami on Wednesday, Gillibrand said she considered addressing consumer protection, illicit finance, and ethics provisions essential before any potential vote on the CLARITY Act. She said that if Congress were to consider those issues, as well as combine the draft of the market structure bill with the version already passed in the Senate Agriculture Committee and ensure ethics language, lawmakers could have a vote “before the August recess,” which begins Aug. 10. “There will be no one voting for this bill if we don’t have an ethics provision,” said Gillibrand. “Because the truth is, is that we ...

A letter from US Senator Richard Blumenthal said he was concerned about “mounting allegations of dangerously lax anti-money laundering prevention by Binance.” Connecticut Senator Richard Blumenthal questioned US authorities responsible for overseeing Binance about whether the company is complying with anti-money laundering laws and sanctions under its 2023 court-imposed monitoring program. According to a report published by Fortune on Friday, Blumenthal sent letters to the Justice Department and the US Treasury’s Financial Crimes Enforcement Network (FinCEN), asking for details on Binance’s compliance.  Binance and its former CEO Changpeng “CZ” Zhao reached a deal in 2023, in which the exchange would pay $4.3 billion to settle civil regulatory enforcement actions, and CZ would plead guilty to one felony charge. Read more