Senate Advances Housing Bill With CBDC Ban, Draws White House Backing
The U.S. Senate advanced the bipartisan 21st Century ROAD to Housing Act by a vote of 84–6. The bill combines major housing initiatives—such as boosting housing supply, limiting institutional ownership of single-family homes, and streamlining development—with a new provision barring the Federal Reserve from issuing a central bank digital currency (CBDC) or similar digital assets through 2030. This restriction, added at the urging of House conservatives, places limits on a U.S. digital dollar within broader housing legislation, rather than as a standalone crypto bill. The White House issued a statement supporting both the housing measures and the CBDC restriction, signaling President Biden’s willingness to sign it. Federal Reserve officials have stated they would not issue a CBDC without explicit Congressional authorization, framing current research as exploratory only. The inclusion of the digital currency prohibition has sparked debate in financial and technology sectors, given ongoing concerns about privacy and government control in payments. The bill must still be reconciled with the House, and the fate of the CBDC provision in the final version is uncertain.
