U.S. Senate Housing Bill Bans Federal Reserve Retail CBDC Issuance Through End of 2030

The 21st Century ROAD to Housing Act, unveiled March 2 by Senate Banking Committee Chairman Tim Scott and Senator Elizabeth Warren, includes a provision barring the Federal Reserve and its regional banks from issuing a retail central bank digital currency or any substantially similar digital asset until December 31, 2030, according to the bill text. The bipartisan package advanced in the Senate with an 84–6 procedural vote and has received White House support primarily for housing reforms aimed at expanding supply, improving affordability, and streamlining environmental reviews. The CBDC clause amends the Federal Reserve Act to prohibit the Fed from directly or indirectly issuing or creating a retail CBDC through financial institutions or other intermediaries, with the ban expiring at year-end 2030. The U.S. currently has no live retail CBDC pilots, and an executive order signed in January 2025 by President Donald Trump directed federal agencies not to establish, issue, or promote a CBDC.