Senate Includes CBDC Ban Amendment in Housing Affordability Bill
The US Senate passed an amendment banning the Federal Reserve from issuing a CBDC until 2030 within a housing bill.Summary
The United States Senate voted 89-10 to include an amendment in the 21st Century Road to Housing Act that prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) or substantially similar digital asset until December 31, 2030. The legislation explicitly does not ban open, permissionless, and private dollar-denominated digital currencies like stablecoins, which figures like US Treasury Secretary Scott Bessent and Donald Trump have supported. Critics, including Representative Ralph Norman and Representative Warren Davidson, argue that CBDCs represent authoritarian surveillance technology that threatens economic freedom, with Davidson also expressing concern that regulated stablecoins could possess similar surveillance capabilities. Hedge fund manager Ray Dalio warned that CBDCs would eliminate financial privacy and serve as an effective government control mechanism, noting they likely won't offer inflation protection and could be automatically taxed or frozen.
(Source：Cointelegraph)