House Republicans are advocating for a permanent ban on a U.S. central bank digital currency (CBDC) by amending the Senate's 21st Century ROAD to Housing Act. The revised bill removes a sunset clause that would have allowed the Federal Reserve to pursue a CBDC after December 31, 2030. Congressman Mike Flood emphasized the change aims to prevent a "backdoor green light for a CBDC."
The original Senate bill, led by Senators Tim Scott and Elizabeth Warren, included a temporary CBDC restriction as part of a broader housing reform package. This package, addressing issues like housing supply and mortgage access, passed the Senate with an 84–6 vote. House Republicans now seek to make the CBDC ban indefinite before returning the bill to the Senate.
The move comes amid broader legislative efforts, with House Majority Whip Tom Emmer also pushing for his Anti-CBDC Surveillance State Act. Critics of CBDCs cite privacy concerns, while supporters argue they could enhance financial access. The outcome of this legislative push could set a lasting precedent for U.S. CBDC policy.
House Republicans Push for Permanent CBDC Ban in Housing Bill
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
