US Senate passes housing bill with CBDC ban until 2030
The US Senate has passed housing legislation that includes a ban on the Federal Reserve creating or working on a central bank digital currency (CBDC) until 2030, which is expected to be quickly taken up and passed by the House.
The Senate on Monday voted 85-5 to pass the 21st Century Road to Housing Act, which aims to increase the housing supply after a bipartisan group of House and Senate leaders reached a deal last week to move forward with the legislation.
The bill has included a CBDC ban since the Senate first passed a version of the bill in March, which outlines that the Fed may not, directly or indirectly, “issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency.”