The U.S. Senate has passed the 21st Century ROAD to Housing Act, which imposes a ban on the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) or similar digital assets until the end of 2030. The bill received overwhelming support, with 85 senators in favor and only five opposing it.
This legislation allows for an exception for the U.S. dollar, maintaining its unrestricted use and the privacy associated with cash transactions. Even after the ban period concludes, the Federal Reserve would still require additional Congressional approval to introduce a CBDC. The next phase involves a vote in the House of Representatives.
