U.S. Senate Passes Housing Bill Including Four-Year Fed CBDC Ban

CoinFeed June 23 news, according to CoinDesk, the U.S. Senate passed a housing bill by a vote of 85 to 5, which includes a four-year ban on a Federal Reserve central bank digital currency. The ban will last until the end of 2030, prohibiting the Federal Reserve System or its subordinate banks from issuing or creating a central bank digital currency or any digital asset substantially similar to it. Although the Fed is not actively promoting a CBDC project, Republican lawmakers view CBDC as a dangerous act of excessive government surveillance and insisted on including it in the housing bill. New Fed Chair Kevin Warsh called CBDC a "bad policy choice" during his nomination hearing. Trump signed an executive order in January 2025 banning any actions to advance a CBDC. If passed by the House and signed by the president, the ban will become law.