U.S. congressional leaders have reached a bipartisan agreement on a massive housing and infrastructure bill that includes a provision blocking the Federal Reserve from issuing a central bank digital currency (CBDC) until the end of 2030. The 21st Century ROAD to Housing Act – also referred to as the 21st Century Housing and Roads Act – combines housing affordability measures with the temporary digital dollar restriction, giving the long-debated CBDC ban a clearer legislative path.
Senate Banking Chair Tim Scott, Senate Banking Ranking Member Elizabeth Warren, House Financial Services Chair French Hill, and House Financial Services Ranking Member Maxine Waters unveiled the updated bill text on June 16. The legislation, which still needs final passage, seeks to cut housing costs by easing red tape, expanding supply, and preserving local control, while also clamping down on large institutional investors buying single-family homes to rent out.
Under the CBDC section, the Fed would be prohibited from issuing or creating a CBDC – defined as a dollar-denominated digital asset that is a direct liability of the central bank and widely available to the public – either directly or through intermediaries. The ban would sunset on December 31, 2030, unless Congress acts again. It builds on a January 2025 executive order from President Donald Trump that barred federal agencies from promoting CBDCs, with the White House warning of threats to individual privacy and U.S. sovereignty.
Notably, the provision carves out a safe harbor for dollar-denominated digital currencies that are open, permissionless, and private, effectively shielding private stablecoins from the CBDC restriction. This carveout is seen as a key win for the crypto sector, as it keeps the door open for stablecoin innovation while the broader digital asset regulatory framework – such as the Digital Asset Market CLARITY Act – is debated. Treasury Secretary Scott Bessent has also stated no CBDC would move forward under the current administration.
While some Republicans had pushed for a permanent ban, the temporary limit leaves a future policy choice open. Markets and industry observers are viewing the development as a positive signal for decentralized crypto assets and stablecoin issuers, as it removes – for now – an immediate government-controlled digital currency competitor. The housing package could move through final votes as soon as next week, potentially freeing floor time for other legislation before the August recess.
