U.S. Senate passes housing bill that carries four-year ban on a Fed CBDC
CoinDesk·
60-second summary
The U.S. Senate passes a housing bill that includes a four-year ban on the development of a central bank digital currency, effectively blocking the Federal Reserve's exploration of a CBDC for now, with proponents arguing it could disrupt the financial system and opponents citing potential risks to monetary policy and banking stability, limiting the Fed's options.
The idea of a U.S. central bank digital currency — though little more than a research topic at the Federal Reserve — may be getting formally blocked.