Senate bans Fed CBDC for four years
The U.S. Senate has passed a housing bill that includes a four-year ban on the Federal Reserve creating a central bank digital currency.
The ban is set to last until the end of 2030 and is part of the 21st Century ROAD to Housing Act.
The bill passed with an 85-5 vote and will now move to the House of Representatives for consideration.
If signed into law, the ban would prevent the Federal Reserve from issuing a digital dollar, an idea that has been met with opposition from Republican politicians.