US Senate housing bill seeks to bar Federal Reserve from issuing a CBDC until end of 2030

On Monday, the Senate Committee on Banking, Housing, and Urban Affairs released the 21st Century ROAD to Housing Act (HR 6644), which includes an amendment to the Federal Reserve Act barring the Fed from issuing a US central bank digital currency until December 31, 2030. The measure, which preserves room for dollar-denominated open, permissionless and private stablecoins, advanced in the Senate on an 84-6 cloture vote, while similar past efforts to block a CBDC have stalled even as other countries pilot or launch their own digital currencies.