The provision banning the Federal Reserve from issuing a central bank digital currency was included in housing affordability legislation.
The United States Senate voted on Thursday to include an amendment in the 21st Century Road to Housing Act that would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC).
The CBDC prohibition will remain in effect until Dec. 31, 2030, according to the amendment in the bill. The legislation, which passed 89-10, stated:
However, the bill does not prohibit any dollar-denominated digital currency that is “open, permissionless, and private,” such as stablecoins.
