US Senate Votes to Pass Housing Bill with Provisions Banning Central Bank Digital Currency

Odaily Planet Daily reports that the U.S. Senate has passed a housing bill with a vote of 89 to 10, which includes a clause prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) before the end of 2030. The clause states that the Federal Reserve shall not directly or indirectly issue CBDC or any digital assets substantially similar to CBDC through financial institutions.

The bill is officially titled the “21st Century Housing Act,” spans 302 pages, with the CBDC ban located in the final section. Digital Chamber CEO Cody Carbone stated that financial privacy is the cornerstone of American freedom, and the decision to authorize CBDC should be made by Congress and the American people.

However, the bill’s prospects in the House remain uncertain. House members have indicated they may seek amendments to the Senate version, especially regarding controversial provisions that limit large investors like private equity firms from holding certain amounts of housing. Additionally, former President Trump recently announced that he will refuse to sign any legislation until voter ID laws are passed in Congress, adding uncertainty to this housing bill and other legislation, including the Digital Asset Market Clarity Act.