- The trademark applications were filed on March 18, 2022 by Meta.
- Meta must submit a declaration stating its intent to use the trademark within 6 months.
With five trademark applications pertaining to blockchain technology and cryptocurrencies that are still active from 2022, the United States House Financial Services Committee is pressuring Meta to reveal any intentions it may have about blockchain technology and cryptocurrencies.
The trademark applications were filed on March 18, 2022. In a letter dated January 22, received by Meta’s founder and CEO Mark Zuckerberg and operating chief Javier Olivan from committee ranking member Maxine Waters, it was stated that the company’s ongoing intent to expand its involvement in the digital assets ecosystem is indicated.
Despite Meta informing officials of the Democratic Financial Services Committee on October 12, 2023, “that there is no ongoing digital assets work at Meta,” Waters claimed that the applications demonstrate that Meta is engaged in digital asset development.
Failed Attempts
In mid-2019, Meta gave in to legislative pressure and scrapped plans for its payments crypto stablecoin Diem, previously Libra. To the now-defunct Silvergate Bank, it sold Diem in January 2022 for $200 million.
Similarly, Meta’s plans to launch its digital wallet, Novi (formerly Calibra), by 2020 also fell through, and there has been no word on when it will be available again. Services related to cryptocurrency and “blockchain assets” (such as wallets, trading, payments, transfers, and the underlying software and hardware) are included in the trademark applications.
Meta must either submit a declaration stating its intent to use the trademark within six months after receiving a Notice of Allowance (NOA) for each filing, which states that the application fulfills registration criteria, or seek an extension to submit the statement within six months.
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