Senate passes housing bill with digital dollar ban

The U.S. Senate passed a housing bill with a ban on Fed-issued digital dollars until 2030. The measure, driven by privacy concerns, now moves to the House for approval.

The U.S. Senate has passed the 21st Century ROAD to Housing Act, a bipartisan bill designed to improve housing affordability. Notably, the legislation includes a temporary ban on the Federal Reserve issuing or creating a central bank digital currency (CBDC). This prohibition, effective until December 31, 2030, prevents the Fed from launching a digital dollar or any similar digital asset, whether directly or through intermediaries. The measure, which passed with an 85-5 vote, was motivated by concerns over government surveillance and privacy. It was attached to the housing bill as part of a broader legislative strategy. The Federal Reserve currently has no active CBDC project, making this move largely pre-emptive. In addition to the CBDC ban, the bill addresses housing supply, mortgage access, and limits on large investors buying single-family homes. The legislation now moves to the House of Representatives for a vote, and, if approved, will go to the president for final sign-off. If enacted, the ban would halt any progress on a U.S. digital dollar until at least 2030.