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.
Globally, only Nigeria, Jamaica and The Bahamas have officially launched CBDCs, while dozens of countries including China, Russia and India are piloting or developing digital currencies, according to the Atlantic Council tracker.