US Senate passes housing bill with CBDC ban until 2030
The Senate passed the 21st Century Road to Housing Act by an 85-5 vote, sending it to the House for expected quick approval. The bill is aimed at expanding housing supply, but it also includes a major provision banning the Federal Reserve from creating or working on a central bank digital currency (CBDC) until 2030. The Fed is barred from directly or indirectly issuing a CBDC or any similar digital asset. The measure includes an exception for stablecoins defined as open, permissionless, private dollar-denominated currency, and even after the ban expires, the Fed would still need explicit congressional authorization to act on a CBDC. The CBDC restriction reflects long-running Republican and crypto industry opposition to central bank digital currencies and was added as a political concession to help move the housing package forward.
