As Facebook parent company Meta continues to build out its new metaverse venture, several U.S. Senators have asked CEO Mark Zuckerberg to prove that the social media giant is serious about combatting crypto scams on its platforms.
On Friday, the group—led by Democrat Bob Menendez of New Jersey—issued a letter to Zuckerberg requesting that the firm provide information about its efforts to ward off cryptocurrency-related scams on platforms like Facebook, Instagram, and WhatsApp.
In the letter, Menendez and his colleagues allege that “Meta provides a breeding ground for cryptocurrency fraud that causes significant harm to consumers.”
Senate Banking Committee Chairman Sherrod Brown co-signed the letter with fellow Senators Elizabeth Warren, Dianne Feinstein, Bernie Sanders, and Cory Booker.
"While crypto scams are prevalent across social media, several of Meta's sites are particularly popular hunting grounds for scammers," the Senators wrote. They noted that of the consumers that...
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