U.S. Senate Advances Bill to Restrict Federal Reserve's CBDC Issuance

The U.S. Senate has moved forward with the 21st Century ROAD to Housing Act, passing it with an 89–10 vote. According to NS3.AI, a significant provision within the bill aims to prevent the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) until at least the end of 2030. This restriction would apply to both direct and intermediary issuance of a CBDC. However, the bill's future remains uncertain as House lawmakers may propose amendments to the broader housing legislation, potentially delaying or obstructing the CBDC ban.