U.S. Senate Approves Housing Package That Bars Fed CBDC Issuance Through 2030

The U.S. Senate has passed a broad bipartisan housing package that includes a provision blocking the Federal Reserve from issuing a U.S. central bank digital currency (CBDC) until 2030. The measure cleared the Senate by a lopsided 85"15 vote and now heads to the House of Representatives, where leadership and key committee figures are expected to move it forward quickly. The legislation, titled the "21st Century ROAD to Housing Act" (H.R. 6644), is aimed at improving housing affordability and curbing competition from large corporate buyers. A notable add-on in the package would prohibit the Fed from launching a CBDC for up to four years, effectively extending the restriction through 2030. In a post summarizing the vote, the Senate wrote: "Agreed to, 85"15: Motion to concur in the House amendment to the Senate amendment to H.R.6644, 21st Century ROAD to Housing Act." House Financial Services Committee Chairman French Hill said he "looks forward to the House moving quickly to advance this bill to President Trump's desk." Senate Banking Committee Chair Tim Scott said Americans need meaningful relief, and Ranking Member Elizabeth Warren called it the biggest housing bill in more than three decades. The CBDC language follows months of negotiations. The Senate added the anti-CBDC provision in March, and the House passed the amended version in May. President Donald Trump signed an executive order in January 2025 barring his administration from creating a CBDC, citing concerns about risks to the U.S. financial system and individual privacy. Because an executive order would apply only during his tenure, allies in Congress sought to codify the restriction by attaching it to the housing package. Separately, the House Financial Services Committee said it will hold a hearing in New York on July 17 focused on the CLARITY Act and its potential effects on financial innovation. Senator Cynthia Lummis has been a leading supporter of the proposal, arguing that regulatory uncertainty is pushing talented developers overseas. The broader debate has also intersected with high-profile enforcement actions. Tornado Cash developer Roman Storm was found guilty of knowingly transmitting more than $1 billion in criminal proceeds, and the U.S. Department of Justice is seeking a retrial after a jury deadlocked on allegations tied to money laundering and sanctions violations. The original report appeared on CryptoPotato.