US Senate Passes Housing Bill With Four-Year Fed CBDC Ban (Decrypt)
The U.S. Senate passed the 21st Century ROAD to Housing Act in an 85-5 vote, a bipartisan package meant to boost housing supply and stop large investors from snapping up single-family homes. The bill would also bar the Federal Reserve from issuing or creating a central bank digital currency (CBDC), or any substantially similar distributed ledger technology (DLT) based digital asset, until the end of 2030, including via intermediaries. The text includes a carve‑out for private “dollar‑denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency”. The bill now goes back to the House of Representatives, where quick approval is expected. [Decrypt]
BTW if you want to see a complete database of my DFC-related posts going back years, including many that didn’t make the Daily Digest cut, click here.
FYI I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.
