The U.S. Senate Banking Committee has advanced a bipartisan housing bill, the "21st Century ROAD to Housing Act," that includes a significant provision temporarily barring the Federal Reserve from issuing a central bank digital currency (CBDC) before 2031. The bill, introduced by Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, aims to simplify housing construction and increase affordability.
The CBDC ban, detailed in a two-page section of the 303-page bill, prohibits the Federal Reserve or any intermediary from issuing a CBDC or similar digital asset. The provision includes a sunset clause for December 31, 2030, with an exception for private, permissionless dollar-denominated currencies that maintain privacy protections. The White House has publicly supported the bill, specifically endorsing the CBDC provision, citing potential threats to personal privacy and liberty.