U.S. Senate Passes Bill Clause Proposing Ban on CBDC Issuance, Ban May Last Until 2030

Odaily News The U.S. Senate passed a bipartisan-supported housing bill with 89 votes in favor and 10 against, which includes a clause prohibiting the Federal Reserve from issuing a Central Bank Digital Currency (CBDC). The ban will last at least until the end of 2030, requiring the Fed not to issue or create a CBDC or similar digital asset directly or through intermediaries such as financial institutions. However, the bill's prospects in the House of Representatives remain uncertain. Some lawmakers have raised objections to clauses in the bill that limit the number of housing units large institutional investors can hold, which may lead the House to push for a new version for review, thereby affecting the bill's advancement process. Industry insiders stated that the relevant clauses reinforce the stance of having the private sector lead digital asset innovation while protecting financial privacy. (Washingtonexaminer)