Congress Moves Forward with Housing Bill Including CBDC Ban Until 2030
- The US House and Senate have agreed on a housing bill that bans the Federal Reserve from issuing a central bank digital currency (CBDC) until December 31, 2030.
- The housing bill also prohibits institutional investors from purchasing existing single-family homes for rental purposes.
- This ban on CBDCs has been part of the legislation since the Senate passed it in March, with strong support from the House in May.
- House Republican leaders plan to vote on the bill after returning from recess on June 23.
- A carveout for crypto stablecoins is included, allowing “dollar-denominated currency that is open, permissionless, and private.”
This legislative agreement allows Congress to prioritize other bills before upcoming elections, including the crypto-regulating CLARITY Act. The CBDC ban reflects ongoing concerns among crypto advocates regarding government control over digital assets.
The housing bill’s inclusion of a CBDC ban until the end of the decade marks a significant step for Republicans who have sought this restriction for years.(Source)
