U.S. Senate, House Advance Bill to Bar Federal Reserve CBDC Issuance Through 2030

U.S. Senate and House leaders have released an updated version of the "Pathway to 21st Century Housing Act," signaling a bipartisan accord between the two chambers, The Block reported. The package centers on housing affordability measures, including steps to increase housing supply and curb market dominance by corporate landlords. The updated text also includes a provision that would explicitly prohibit the Federal Reserve from issuing or creating a central bank digital currency (CBDC), or any "substantially similar" digital asset, before Dec. 31, 2030. The clause was pushed by House Republicans. The Trump administration has taken a similar line, with Treasury Secretary Bessent previously saying CBDCs are "not under consideration." The bill is set to face a procedural vote in the Senate first. After Congress returns from its June 23 recess, it is expected to move to the House for consideration before being sent to the President for signature.