TechFlow News, March 13: According to CoinDesk, the U.S. Senate passed the “21st Century ROAD to Housing Act” by a bipartisan majority vote of 89–10. Tacked onto the end of this housing-related bill is an unrelated provision prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) or any digital asset substantially similar to a CBDC—including issuance indirectly through financial institutions or other intermediaries—before the end of 2030.
This provision explicitly states that the Federal Reserve “shall not issue or create, directly or indirectly through financial institutions or other intermediaries, a central bank digital currency or any digital asset substantially similar to a central bank digital currency.” However, significant uncertainty remains regarding whether the bill will ultimately become law. Members of the House of Representatives have signaled they may seek amendments to the Senate version.
