The U.S. Senate passed a housing supply and affordability bill 85-5 that includes a provision prohibiting the Federal Reserve from issuing a central bank digital currency through the end of 2030. The four-year ban was tucked into legislation primarily aimed at housing, giving it unusually broad bipartisan support. The bill now moves toward the House before any potential presidential signature.
A federal CBDC has long been viewed as a potential competitor to existing stablecoins and crypto payment networks — a government-issued digital dollar could crowd out private alternatives. Blocking the Fed from developing one through 2030 removes a significant regulatory overhang for stablecoin issuers and crypto payment rails, and is directionally positive for assets in that segment. The lopsided 85-5 vote signals this isn't a fringe position — it's a bipartisan policy consensus, which makes reversal before 2030 unlikely.
House floor vote on the housing bill (no fixed date yet, watch for scheduling announcements). Next Senate Banking Committee hearings on stablecoin legislation (ongoing). Next FOMC meeting: July 29-30.
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