A bipartisan US housing bill would bar the Federal Reserve from issuing a CBDC or similar digital asset until Dec. 31, 2030.
Crypto News
The US Senate and House of Representatives have reached agreement on a housing bill that also bars the Federal Reserve from issuing a central bank digital currency (CBDC). The ban would remain in place through Dec. 31, 2030.
Senator Tim Scott, Senator Elizabeth Warren, Representative French Hill, and Representative Maxine Waters released the updated text of the "21st Century ROAD to Housing Act" on June 16. The release reflects bipartisan, bicameral agreement on the legislation.
Housing Package Targets Affordability
The bill's primary goal is to increase housing supply across the country and prevent corporate landlords from dominating the market. A new three-year sunset clause for a disaster relief program was added as a compromise to address House concerns.
Scott described the bill as the product of years of work aimed at lowering costs, cutting red tape, and helping more Americans buy homes. He called on Congress to move the bill forward without further delay.
Related Article:South Carolina Signs Pro-Crypto, Anti-CBDC Bill into Law
CBDC Ban Added by House Republicans
The anti-CBDC language blocks the Fed from creating not only a CBDC, but also any digital asset judged substantially similar to one. House Republicans pushed for the provision's inclusion, according to reporting from journalist Eleanor Terrett. Attaching narrower policy goals to larger, must-pass legislation is a common strategy in Congress.
The Trump administration has consistently opposed a CBDC. Treasury Secretary Scott Bessent said last month that a CBDC remains off the table, adding that the administration's regulatory focus is on advancing the CLARITY Act instead.
The 21st Century ROAD to Housing Act is set for its first procedural vote in the Senate, according to Politico, which cited Senate Majority Leader John Thune. The House is expected to vote shortly after lawmakers return from recess around June 23. A House vote would send the bill to the president for final approval.
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