US Congress Passes Housing Bill with CBDC Ban Until 2030

US lawmakers have reached a deal on a housing bill that includes a ban on the Federal Reserve creating a central bank digital currency (CBDC) until 2030.

The bipartisan group of House and Senate leaders released an updated version of the 21st Century Road to Housing Act, which aims to address housing affordability by banning institutional investors from buying existing single-family homes to rent out.

The bill has been in the works for months, with the Senate passing its version in March and the House following suit in May. However, the two chambers disagreed on some aspects, leading to further negotiations.

Under the agreement, the Federal Reserve will not be allowed to issue or create a CBDC until 2030, although there is an exception for crypto stablecoins, which are 'dollar-denominated currency that is open, permissionless, and private.'