US Senate passes housing bill with provision to ban CBDC

The U.S. Senate has passed a housing-related bill with an overwhelming majority that includes a provision to ban the issuance of a central bank digital currency (CBDC), CoinDesk reported. However, the bill's passage in the House of Representatives remains uncertain. The provision would prohibit the Federal Reserve from issuing a CBDC or a similar digital asset until at least the end of 2030. It also specifies that the Fed would be restricted from issuing a CBDC indirectly through financial institutions or intermediaries. Republican lawmakers have consistently opposed the introduction of a government-led digital dollar, and the U.S. is currently in the research phase for a potential CBDC.