In the letter, the ranking member on the Senate Banking Committee argued that given Meta’s massive global userbase, any kind of stablecoin activity on the platform could have “serious implications for competition, privacy, the integrity of our payments system, and financial stability.” 

Warren added that Congress needs to understand the extent of Meta’s plans for stablecoins, which are a type of cryptocurrency pegged to the dollar, during a time when lawmakers are working to pass a bill related to crypto market structure.

Some of the questions raised in Warren’s letter to Meta were partially answered last week, when a website update revealed that Facebook had quietly rolled out stablecoin payments for some creators in Colombia and the Philippines. 

The program involved Circle’s USDC stablecoin and requires users to add third-party wallet addresses to their Facebook accounts, meaning that crypto integration within Meta currently remains limited. 

“We have repeatedly conveyed directly to Sen. Warren that there is no Meta stablecoin. We have also told Sen. Warren we want people and businesses to be able to pay the way they want on our platforms, which may include through third-party stablecoin. More information can be found in our Help Center here,” a spokesperson for Meta told Fortune.

Meta is no stranger to facing scrutiny from lawmakers over its crypto plans. In 2019, the company (then named Facebook) announced plans to roll out a stablecoin named Libra, later changing the project’s name to Diem following a wave of backlash.

CEO Mark Zuckerberg was brought before the House Financial Services committee later that year to defend the company’s crypto plans. At the time, Zuckerberg was already locking horns with Warren, who advocated breaking up Big Tech companies. By 2022, the company shuttered the effort amid unrelenting regulatory pressure.

Warren has long been one of Congress’ most vociferous crypto skeptics—especially when it comes to Meta. The Massachusetts senator penned a letter with Sen. Richard Blumenthal (D-Conn.) last year expressing concern over Meta’s stablecoin plans, including the possibility of Meta rekindling efforts to launch its own stablecoin. 

In their 2025 letter, the Senators cited USDC, with which Meta has now integrated, as potentially risky, pointing out that the token lost its dollar peg and traded as low as $0.88 during the Silicon Valley Bank collapse in 2023. Warren and Blumenthal also teamed up with Sen. Adam Schiff (D-Calif.) for a letter last month questioning President Trump’s business associate Bill Zanker over the TRUMP memecoin. 

The Meta letter comes as Warren’s Senate committee appears to be making progress on the CLARITY Act, a bill creating a regulatory framework for crypto. Senate Banking Committee chairman Tim Scott (R-S.C.) has said he hopes to bring the bill to a markup this month.