US Senate Advances Housing Bill with Temporary Ban on Federal Reserve CBDC

On Monday, the US Senate passed the 21st Century ROAD to Housing Act (H.R. 6644) with strong bipartisan support, clearing the chamber by a vote of 85-5. This legislation introduces comprehensive housing reform measures, but also includes a notable amendment: the Federal Reserve is barred from issuing a central bank digital currency (CBDC) until the year 2030.

The provision preventing the Fed from launching a CBDC reflects ongoing debate within US policymaking circles about the role, risks, and benefits of government-backed digital currencies. While some lawmakers and analysts argue that a CBDC could offer financial innovation and improved payment systems, others have raised concerns about privacy, government overreach, and financial system disruption.

With Senate approval, H.R. 6644 now proceeds to the House of Representatives, where it will undergo further debate and potential revision. If passed by the House, the bill will move to the President’s desk for final signing. The CBDC restriction included in the bill would remain in effect until at least 2030 unless revisited by future legislation.