US Senate · Federal Reserve (FED) · U.S. · Republicans · Bitcoin Magazine
US Senate Passes Housing Bill With Four-Year Fed CBDC Ban
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The U.S. Senate has passed a housing bill that includes a ban on a Federal Reserve-issued CBDC through 2030.
Key facts
- Senator Bill Hagerty told Fox Business on June 18 that he hoped the Clarity Act could clear the floor in the weeks ahead
- The U.S. Senate passed a sweeping housing affordability bill Monday night directly or through any intermediary, through December 31, 2030
- The U.S. Senate has passed a housing bill that includes a ban on a Federal Reserve-issued CBDC through 2030
- Galaxy Research has put the odds of passage this year as high as 60%, but the clock is running out
Summary
The U.S. Senate passed a sweeping housing affordability bill Monday night directly or through any intermediary, through December 31, 2030. It explicitly shields private stablecoins, carving out any “open, permissionless, and private” dollar-denominated asset. Trump set the political foundation for the ban in January 2025, signing an executive order barring his administration from any CBDC activity, warning it would threaten “the stability of the financial system, individual privacy, and the sovereignty of the United States”. New Fed Chair Kevin Warsh, who replaced Jerome Powell, has called a U.S. CBDC a “bad policy choice”, making the Fed and the White House, for once, aligned.