US Senate housing bill includes provisions banning central bank digital currencies.

CoinFeed reported on March 3rd that, according to CoinDesk, the U.S. Senate Banking Committee has added a provision to its newly introduced bipartisan housing bill temporarily banning the Federal Reserve from issuing central bank digital currencies (CBDCs). This bill, the "21st Century to Housing Act," co-sponsored by Committee Chairman Tim Scott and Senior Member Elizabeth Warren, aims to promote housing construction in the United States by reducing regulatory hurdles. In this 303-page bill, the CBDC ban, occupying only two pages, stipulates that the Federal Reserve Board or the Federal Reserve Banks may not issue or create CBDCs or any digital assets substantially similar to them, directly or through intermediaries such as financial institutions. The ban is valid until December 31, 2030, and includes exceptions for permissionless, private "dollar-denominated" currencies that fully retain the privacy of physical currencies.