PANews March 3 Report: According to CoinDesk, the U.S. Senate Banking Committee has included a temporary ban on the Federal Reserve issuing Central Bank Digital Currencies (CBDC) in its latest bipartisan housing bill. The bill, titled the “21st Century Housing Act,” jointly proposed by Committee Chair Tim Scott and senior member Elizabeth Warren, aims to promote housing development in the U.S. by reducing regulatory barriers.
Within the 303-page bill, the two-page CBDC prohibition clause states that the Federal Reserve Board or Federal Reserve Banks shall not directly or indirectly issue or create CBDC or any similar digital assets through financial institutions or intermediaries. The ban is effective until December 31, 2030, and includes an exception for permissionless, private “dollar-denominated” currencies that fully preserve physical currency privacy protections. The White House issued a statement supporting the bill, explicitly endorsing the CBDC clause, stating it “prevents the development of CBDC that could pose significant threats to individual privacy and freedom.” Previously, Congress had attempted multiple times to pass similar bans; the House passed a standalone bill last year, but it has not yet been fully approved by Congress.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Brazil Bans Polymarket, Kalshi in Prediction Market Crackdown
Brazil has enacted a sweeping ban on prediction markets and betting platforms, including the two leading platforms Polymarket and Kalshi, according to local media and government filings. The Banco Central do Brasil issued a resolution prohibiting the platforms due to non-compliance with local
CryptoFrontierJust Now
Tennessee Bans Crypto ATMs Statewide, Becoming Second U.S. State to Impose Full Prohibition
Gate News message, April 25 — Tennessee has become the second U.S. state to outright ban cryptocurrency ATMs, making it a misdemeanor to operate or host the machines anywhere in the state. Gov. Bill Lee signed House Bill 2505 into law on April 13 after it passed both chambers unanimously. The law
GateNews9m ago
DOJ Closes Investigation Into Fed Chair Powell, Clearing Path for Crypto-Friendly Kevin Warsh
Gate News message, April 25 — The U.S. Department of Justice has closed its criminal investigation into Federal Reserve Chair Jerome Powell, removing a key obstacle to the Senate's confirmation of Kevin Warsh as the incoming Fed chair. U.S. Attorney for the District of Columbia Jeanine Pirro
GateNews1h ago
US Sanctions Iran-Linked Crypto Wallets Holding $344M Frozen by Tether
U.S. Treasury Secretary Scott Bessent announced sanctions on multiple wallets linked to Iran as part of President Donald Trump's efforts to increase economic pressure on the country, according to CNN. The move follows Tether's freeze of $344 million in USDT on Tron, which has been linked to
CryptoFrontier2h ago
CFTC Sues New York as 38 AGs Back Kalshi Prediction Market Ban
New York Attorney General Letitia James joined a bipartisan coalition of 37 other attorneys general and the District of Columbia on Friday in urging Massachusetts' top court to uphold a preliminary injunction against prediction market platform Kalshi, while the U.S. Commodity Futures Trading Commiss
CryptoFrontier3h ago
Tennessee Bans Crypto ATMs Statewide, Second U.S. State After Indiana
Tennessee has become the second U.S. state to outright ban crypto ATMs, with Governor Bill Lee signing House Bill 2505 into law on April 13. The bill passed both chambers unanimously and will take effect July 1, making it a misdemeanor to operate or host the machines anywhere in the state.
CryptoFrontier6h ago
