US Congress Advances Bill Banning Fed CBDC Until 2030
The US Senate and House have agreed to advance the 21st Century ROAD to Housing Act, which prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) until December 31, 2030. Private stablecoins are exempt from the restriction.
Both chambers of the US Congress have reached an agreement to move forward with the 21st Century ROAD to Housing Act. The bill explicitly bars the Federal Reserve from issuing a central bank digital currency (CBDC) or any other virtual asset that is "substantially similar" to one until December 31, 2030.
The legislation carves out an exception for private stablecoins, allowing their development and use to proceed without restriction. This regulatory distinction highlights the ongoing debate between government-issued digital currencies and privately managed alternatives.
The move comes amid global discussions on CBDCs, with some countries already piloting their own digital currencies. The US Congress's stance delays any potential Fed-backed digital dollar for the remainder of the decade.
Source: ForkLog