The US Senate passed a housing bill that includes provisions prohibiting the Federal Reserve from issuing CBDCs.

PANews reported on March 13th that, according to CoinDesk, the US Senate passed a housing bill by a bipartisan majority of 89 to 10. The bill includes a clause prohibiting the Federal Reserve from issuing central bank digital currencies (CBDCs), a ban that will last until the end of 2030. This clause states that the Federal Reserve may not issue or create CBDCs or any digital assets substantially similar to CBDCs, directly or through financial institutions or other intermediaries.

The fate of the bill in the House remains uncertain, with the main point of contention being that it would force large housing investors, such as private equity firms, to significantly limit the number of homes they can own. While President Trump supports expanding housing accessibility, he recently stated that he will not sign any bill until Congress passes a voter identification bill, adding uncertainty to the prospects of other legislation, including housing legislation and crypto market structure legislation.