US Senate’s anti-CBDC housing bill advances with bipartisan support
A bipartisan US Senate housing bill containing a temporary ban on CBDC issuance passed a key procedural vote.Summary
The U.S. Senate's comprehensive housing bill, titled the "21st Century ROAD to Housing Act," which aims to boost housing supply and affordability, has advanced after clearing a procedural cloture vote with strong bipartisan support (84-6).
Notably, the 303-page bill includes a provision in Title X, Section 1001, that stipulates the Federal Reserve cannot issue a central bank digital currency (CBDC) until December 31, 2030, with an exception for any open, permissionless, and private dollar-denominated currency that preserves privacy.
While the anti-CBDC measure is unusual in a housing package, it was reportedly included following pressure from House Republicans. The White House reportedly supports the legislation, specifically highlighting the provision to halt CBDC development due to privacy and liberty concerns.
(Source：The Block)