US Senate passes housing bill that bans Federal Reserve CBDC until 2030

The Senate voted 85-5 to pass a housing bill that prohibits the Federal Reserve from creating a CBDC until 2030. The bill heads to the House where it is expected to pass quickly and be signed into law.

• The Senate passed the 21st Century Road to Housing Act 85-5, which includes a ban on the Fed issuing a CBDC until 2030.
• The CBDC ban was added as a political sweetener to secure Republican support for the housing package.
• Stablecoins are exempt from the ban, and the Fed cannot act on a CBDC after 2030 without explicit congressional approval.
• The bill is expected to pass the House quickly and be signed by the president.
• Crypto advocates have long opposed CBDCs as government overreach into digital currency.

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