TechFlow News, March 3: According to Decrypt, the U.S. Senate passed the “21st Century Housing Act” on March 3 by an overwhelming margin of 84 votes to 6. The bill includes a provision prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) until the end of 2030.
This provision was added at the urging of conservative members of the House of Representatives and bans the Federal Reserve from issuing a digital dollar either directly or indirectly through financial institutions. The White House has expressed support for the bill, stating that it would recommend the President sign it into law if submitted in its current form. The bill also includes housing policy measures—such as increasing housing supply and restricting institutional purchases of single-family homes—but must be reconciled with the House version before it can be finally sent to the President for signature.
