Social media giant Meta files 5 blockchain trademark applications! Democratic Party member Maxine Waters expresses concern

Democratic Party member Maxine Waters wrote to Meta on the 22nd expressing concerns about the company's multiple trademark applications related to digital assets, stating that this action contradicts the information previously disclosed to Waters by the company. It is reported that the trademark applications filed by Meta include content related to "online dating applications" and "digital wallets."

Meta Applies for Trademarks for "Dating Service" and "Digital Wallet"

Maxine Waters, the Democratic leader of the House Financial Services Committee (FSC), expressed concerns in a letter sent to Meta CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan on Monday regarding the five digital asset-related trademark applications the company submitted in the past year.

Specifically, the services Meta is developing or planning to launch include:

• Serial No. 97320155: Online social networking and dating services facilitating the trading of cryptocurrencies or related tokens
• Serial No. 97320153: Design and development of hardware and software related to blockchain
• Serial No. 97320146: Services for trading, transferring, and making payments with cryptocurrencies, digital assets, and other forms of tokens
• Serial No. 97320144: Advertising services based on blockchain or digital media like AR and VR
• Serial No. 97320136: Downloadable electronic wallets to assist in verifying and managing cryptocurrencies and digital assets

Waters Previously Expressed Concerns about the Libra Stablecoin Project

Since 2019, Waters has closely monitored Meta's various moves into the cryptocurrency space, particularly its Libra rebranded as Diem stablecoin project, which has faced criticism from several U.S. senators.

The Facebook stablecoin project "Diem" faces challenges; the plan is rumored to seek a sale to return capital to investors

In 2021, Waters, along with other lawmakers, wrote to Meta, requesting the company to halt the development of Libra and the digital wallet Calibra due to potential threats to privacy and national security:

Given your company's past troubles, I urge Meta to stop any advances in cryptocurrency development until Congress and regulatory agencies have the opportunity to reexamine these issues and take action.

The following year, Meta subsequently announced the sale of assets related to the Diem project, such as patents and network services, to the now-defunct crypto-friendly bank Silvergate, and the gradual dissolution of the Diem Association and its development team.

In the recent letter, Waters also mentioned that Meta's employees had indicated during communications with the FSC that the company is currently not engaged in any research, development, or collaboration related to blockchain or stablecoins.

Maxine Waters: I thought you weren't going to do this?

Meta's submission of the above five patent applications to the U.S. Patent and Trademark Office (USPTO) indicates that Meta has not abandoned its goal or plans to continue exploring or developing blockchain-related technologies.

Waters expressed regret in the letter, believing that Meta's actions contradict their previous statements:

Based on the applications submitted by Meta as of January 22, it appears that the company intends to remain involved in the digital asset field and ecosystem.

Nevertheless, Waters still raised questions to Meta regarding the detailed project plans they intend to develop and whether they plan to launch a cryptocurrency payment platform, among other inquiries.