Democratic Representative Maxine Waters has expressed notable apprehensions regarding Meta’s persistent involvement in the digital asset sector. In a comprehensive letter addressed to Meta’s CEO, Mark Zuckerberg, and COO, Javier Olivan, Waters, well-known for her critical stance on Meta’s previous cryptocurrency endeavors, especially the Libra stablecoin project, highlighted Meta’s recent filing of five trademark applications related to digital assets and blockchain technology.
The detailed letter raises concerns about Meta’s potential expansion into the digital assets ecosystem based on these applications, submitted to the U.S. Patent and Trademark Office (USPTO).
“I write to express my concerns regarding Meta Platforms, Inc.’s filing status of five trademark applications related to various digital assets services and blockchain technology,” Waters conveyed in her letter.
The applications, submitted with the USPTO, indicate Meta’s interest in services related to online social networking and dating, integrating financial trades and crypto exchanges. Furthermore, they encompass the design and development of computer hardware and software services related to blockchain and various digital currencies.
Waters pointed out the initial filings on March 18, 2022, and expressed that Meta’s recent submissions suggest a continued intention to expand its involvement in the digital assets ecosystem.
Despite the trademark applications indicating specific goods and services connected with digital asset work, Waters highlighted a contradiction in Meta’s stance. She mentioned that Meta staff claimed on October 12, 2023, in communications with the Democratic Financial Services Committee, that there was no ongoing digital assets work at Meta.
In response to these conflicting statements, Waters has requested detailed information about Meta’s trademark applications, including any intentions to restrict, limit, or delete descriptions of goods and services associated with digital assets. As the ranking member of the House Financial Services Committee, Waters emphasized the committee’s perspective, stating that the trademark applications seem to indicate that Meta has not ceased its activity in digital assets since the shutdown of Diem.
Additionally, Waters posed a series of questions regarding Meta’s future plans, asking if the company intends to pursue projects related to web3, digital assets, or digital wallets. She also inquired whether Meta plans to file a Statement of Use or an Extension Request for the trademark applications. These inquiries reflect the committee’s ongoing concerns about Meta’s involvement in the digital asset sector.