A U.S. freeze on a government-run digital dollar is suddenly close to becoming law, carried there by an unrelated housing bill.
The measure says the Fed "may not issue or create a central bank digital currency or any digital asset that is substantially similar" to one, "directly or indirectly through a financial institution or other intermediary." Even after the ban lapses in 2030, the central bank would need explicit authorization from Congress to pursue a digital dollar.
The U.S. and CBDCsSenators framed the vote as a rare bipartisan win, with Banking Committee Chair Tim Scott (R-SC), who wrote the bill with Ranking Member Elizabeth Warren (D-MA), telling the floor that "housing prices are too darn high and housing supply is too low."
The floor speeches focused on housing supply and corporate landlords, rather than the digital-dollar ban traveling with the bill.
