US Senate · Elizabeth Warren · Federal Reserve (FED) · US Congress · CryptoSlate
Elizabeth Warren once confirmed CBDCs have a “great promise”, Now she’s helping block it
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Elizabeth Warren has spent much of the past decade warning Americans about the risks posed by privately issued and decentralized digital assets.
Key facts
- Late Monday, the US Senate passed the 21st Century ROAD to Housing Act in an overwhelming 85-5 vote
- Data from the Atlantic Council indicates that 146 countries and currency unions, representing over 98% of the global gross domestic product, are actively exploring or developing a CBDC
- Meanwhile, the 85-5 vote also should not be treated as a separate Senate referendum on central bank digital currencies
- President Donald Trump also moved the federal government further away from the proposal in January 2025 when he signed an executive order directing agencies to stop developing, establishing
Summary
01 Elizabeth Warren backed a bipartisan housing bill that bars the Federal Reserve from issuing a retail CBDC until 2031. 02 The restriction turns an executive policy into law, making it harder for future administrations to revive a digital dollar. 03 Warren once called CBDCs promising, but the ban is temporary and Congress can revisit the issue after 2030. Over the years, the Massachusetts Democrat has built a reputation as one of crypto industry’s most recognizable critics by persistently linking the emerging industry to money laundering, speculative excess, consumer losses, and sanctions evasion.