Summary
- The U.S. Senate passed a bill that includes a provision barring the Federal Reserve from issuing CBDCs and similar digital assets.
- If enacted, the temporary measure would prevent the Federal Reserve Board and regional Federal Reserve Banks from issuing or creating CBDCs through the end of 2030.
- The bill would take effect only after approval by the House of Representatives and a signature from President Donald Trump.
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The U.S. Senate passed a bill containing a provision that would bar the Federal Reserve from issuing a central bank digital currency, or CBDC.
CoinDesk reported on June 23 that the Senate approved the ROAD to Housing Act the previous day by an 85-5 vote. The bill includes language prohibiting the Fed from issuing a CBDC or a similar digital asset, either directly or through financial institutions.
Republicans have long opposed a CBDC, arguing it could expand government financial surveillance. The provision was added to the bipartisan housing-supply bill, CoinDesk reported.
If enacted, the measure would prevent the Federal Reserve Board and the regional Federal Reserve Banks from issuing or creating a CBDC. The restriction is temporary and would remain in effect through the end of 2030.
Earlier, Fed Chair nominee Kevin Warsh called a CBDC a "wrong policy choice" during his confirmation hearing and voiced opposition to it. President Donald Trump also prohibited executive-branch efforts to pursue a CBDC in a January 2025 executive order.
The bill must still pass the House of Representatives and be signed by President Donald Trump before it can take effect.
Uk Jin
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