US Senate Advances Housing Package with Temporary CBDC Ban

The US Senate has taken a significant step towards advancing a major housing package, which includes a temporary ban on central bank digital currencies (CBDCs) until 2030.

The bipartisan vote of 84–6 is notable for its lopsided margin in today's polarized Senate, suggesting that the bill could clear additional procedural hurdles. The restriction on CBDCs would remain in place until December 31, 2030, and would prohibit the Federal Reserve and regional reserve banks from issuing or creating a digital currency through intermediaries such as commercial banks.

The inclusion of the CBDC ban in the housing package reflects pressure from House conservatives, who have pushed to attach the restriction to broader must-pass legislation instead of advancing it separately as crypto-specific policy. The White House has signaled support for the bill, indicating that advisors would propose signing it if it is submitted to the President with the current method.