The US Senate on [insert date if available, else leave generic] passed the 21st Century ROAD to Housing Act (H.R. 6644) by a vote of 85 to 5, sending the bipartisan housing package to the president’s desk. Tucked inside the legislation is a statutory ban that bars the Federal Reserve from issuing a central bank digital currency until at least 2031.
What the housing package does
The bill is described as a wide-ranging housing package, though its exact provisions weren’t detailed in the vote tally. Lawmakers on both sides backed it overwhelmingly — only five senators opposed it. The measure now awaits the president’s signature to become law.
Why the CBDC ban is in there
While the main focus is housing, the bill includes a provision that explicitly prohibits the Federal Reserve from launching a central bank digital currency through December 31, 2030. The ban covers any Fed-issued digital dollar, effectively freezing work on a government-run digital currency for more than six years. Lawmakers who pushed for the restriction have argued that a CBDC could give the government too much control over Americans’ financial transactions.
What happens next
The bill has been sent to the president’s desk. Once signed, the CBDC prohibition will take effect immediately, and the Federal Reserve will be blocked from moving forward with a digital dollar until at least January 1, 2031.
