Meta's Trademark Filings Reveal Renewed Interest in Digital Assets
The tech giant Meta's recent spate of trademark filings reveals renewed interest in digital assets and blockchain technology. Maxine Waters questions the intent behind the application filings in a letter to Meta.
Maxine Waters Concerned About Meta’s Renewed Interest in Digital Assets
The ranking Democrat of the House Financial Services Committee, Maxine Waters, is concerned over Meta’s recent trademark applications, which refer to the tech giant’s potential re-entry into the digital asset space. Waters has sent a letter to Meta’s CEO, Mark Zuckerberg, and COO, Javier Olivan, questioning the company’s intentions regarding digital assets and blockchain technology.
Waters refers to the five trademark applications filed by Meta over the past year in her letter. The applications cover a range of services, including an online social networking and dating service, digital currency exchange, the development of blockchain-related computer hardware and software, and cryptocurrency trading services. Meta personnel have issued statements on earlier occasions, denying working on digital asset projects at the company.
Waters noted as a vocal critic of Meta’s crypto ventures, particularly the Libra (later Diem) stablecoin project, expressed her concerns about the company potentially reviving the digital asset projects. She highlighted the incongruity between Meta’s trademark filings and their public disapproval of current digital asset ventures.
Meta faced regulatory and legislative scrutiny over its plans to launch the Libra cryptocurrency and the Calibra digital wallet in 2019. Waters, along with other lawmakers, had requested a moratorium on these projects due to privacy and national security concerns. Despite these challenges and the eventual shutdown of the Diem project, Meta’s interest in digital assets seems to persist as the letter from Waters suggests.
Congresswoman Seeks Clarity on Meta's Intent
The letter from the congresswoman seeks clarity on Meta's intent to launch a cryptocurrency payments platform and its plans for the recently filed trademark applications. She stressed the need for transparency, especially given the company’s troubled past with digital currencies. However, Meta has yet to respond to the letter.
What is your take on Meta pursuing several potential digital asset-related business opportunities? Please share your thoughts and opinions about this subject in the comments section below.
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