Democrat Rep. Maxine Waters Raises Concerns Over Meta’s Continued Crypto Ventures

Meta United States
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Hongji Feng
Author Categories
About Author

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more

Rep. Maxine Waters has expressed significant concerns over Meta’s continued involvement in the digital asset sector.

In a detailed letter addressed to Meta CEO Mark Zuckerberg and COO Javier Olivan, the California Democrat, known for her critical stance on Meta’s previous cryptocurrency endeavors, particularly the Libra stablecoin project, has highlighted Meta’s filing of five trademark applications related to digital assets and blockchain technology.

“I write to express my concerns regarding Meta Platforms, Inc.’s (f/k/a Facebook, Inc.) filing status of five trademark applications related to various digital assets services and blockchain technology,” wrote Waters.

These applications, filed with the U.S. Patent and Trademark Office (USPTO), suggest Meta’s potential expansion in the digital assets ecosystem.

“With its initial filings on March 18, 2022, Meta’s application submissions as of January 22 appear to represent a continued intention to expand the company’s involvement in the digital assets ecosystem,” wrote Waters.

Meta’s Five Application Filings

The applications include services related to online social networking and dating, which integrate financial trades and crypto exchanges. Additionally, they encompass the design and development of computer hardware and software services related to blockchain and various digital currencies.

The applications involve digital asset services, particularly in the domain of crypto trading, exchange services, and blockchain-based payment verification.

The filings also cover advertising services via electronic and virtual media, blockchain as a service for business advice in blockchain technology, and downloadable software for managing digital currency transactions.

“Despite these trademark applications, which indicate there are specific goods and services connected with digital asset work that Meta is doing,” wrote Waters. “Meta staff asserted on Oct. 12, 2023, in communications with Democratic Financial Services Committee (Committee) staff that there is no ongoing digital assets work at Meta.”

Waters Requests Details on Trademark Applications

Each of these applications, as per USPTO regulations, requires a Statement of Use or an Extension Request within six months of their Notice of Allowance issuance date, which Waters points out in the letter. The Representative made an inquiry about Meta’s relevant filing, including “restricting, limiting, or deleting goods and services” description to the applications.

As the ranking member of the House Financial Services Committee, Waters stated the Committee’s perspective, saying, “The trademark applications described above seem to indicate that Meta has not ceased its activity in digital assets since the shutdown of Diem.”

In addition, Waters requested answers to a series of questions “given the Committee’s ongoing concerns.” Primarily, Waters wondered if Meta intends to “pursue any projects related to web3, digital assets, or digital wallets,” and to file Statement of Use or an Extension Request for the applications.

More Articles

Altcoin News
Kanye West Says He Rejected $2 Million Offer to Promote Alleged Crypto Scam
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:46:28
Bitcoin News
Florida Senator Proposes State Investment in Bitcoin to Hedge Against Inflation
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:43:01
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors