PANews March 3 Report: According to CoinDesk, the U.S. Senate Banking Committee has included a temporary ban on the Federal Reserve issuing Central Bank Digital Currencies (CBDC) in its latest bipartisan housing bill. The bill, titled the “21st Century Housing Act,” jointly proposed by Committee Chair Tim Scott and senior member Elizabeth Warren, aims to promote housing development in the U.S. by reducing regulatory barriers.
Within the 303-page bill, the two-page CBDC prohibition clause states that the Federal Reserve Board or Federal Reserve Banks shall not directly or indirectly issue or create CBDC or any similar digital assets through financial institutions or intermediaries. The ban is effective until December 31, 2030, and includes an exception for permissionless, private “dollar-denominated” currencies that fully preserve physical currency privacy protections. The White House issued a statement supporting the bill, explicitly endorsing the CBDC clause, stating it “prevents the development of CBDC that could pose significant threats to individual privacy and freedom.” Previously, Congress had attempted multiple times to pass similar bans; the House passed a standalone bill last year, but it has not yet been fully approved by Congress.
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