Senator Warren demands Meta disclose details on its stablecoin pilot by May 20 amid regulatory scrutiny.

Senator Elizabeth Warren has formally asked Meta CEO Mark Zuckerberg to provide detailed information by May 20 about Meta's pilot program using USDC stablecoins in Colombia and the Philippines. She seeks clarity on which stablecoins and wallets are involved, how issuers like Circle are selected, what user data is collected, and how Meta plans to separate its social media and financial services. Warren's letter highlights concerns about competition, privacy, and financial stability as the Senate Banking Committee debates the CLARITY Act, which aims to regulate stablecoins and digital payments. This move signals heightened regulatory scrutiny on Big Tech's growing role in crypto payments and the potential systemic risks involved.