A proposed amendment to the Federal Reserve Act would prohibit the US central bank from issuing a central bank digital currency until December 31, 2030.
The provision appears in Section 10 of the Senate’s 21st Century ROAD to Housing Act, stating that:
“The Federal Reserve board or any regional bank may not issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency directly or indirectly through a financial institution or other intermediary.”
The White House said a US CBDC could “pose significant threats to personal privacy and liberty,” signalling support for the prohibition.
The amendment includes a sunset clause expiring at the end of 2030, meaning fresh legislation would be required to extend the ban beyond that date.
The housing bill advanced on a procedural cloture vote of 84-6 in the Senate, clearing the way for full floor consideration.
The language revives elements from earlier standalone efforts, including Senator Mike Lee’s No CBDC Act and Congressman Tom Emmer’s Anti-CBDC Surveillance State Act, both of which have stalled in Congress.