Senate passes bill to delay digital dollar until 2030

The U.S. Senate passed a bill barring the Fed from issuing a digital dollar until 2030, but the measure still faces uncertainty in the House and from the president.

The U.S. Senate has passed the 21st Century ROAD to Housing Act, a housing bill featuring a provision that bars the Federal Reserve from issuing a central bank digital currency (CBDC), or "digital dollar," until at least the end of 2030 or 2031. This restriction covers both direct and indirect issuance, including through financial institutions or intermediaries, and applies to any digital asset substantially similar to a CBDC. The measure passed with strong bipartisan support in an 89-10 vote, reflecting ongoing concerns about government-controlled digital currencies and financial privacy. Although the U.S. government has only researched CBDCs and not moved beyond the study phase, the bill's future is uncertain. It faces potential amendments and opposition in the House of Representatives, as well as a lack of enthusiasm from the president. The legislation must still pass the House and be signed into law to take effect.