A four-year ban on US central bank digital currencies (CBDC) is set to take effect if the housing bill becomes law on Saturday (July 11), CoinDesk reported. I mentioned Friday (July 10).
The ban is included in the bill that Congress approved and sent to President Donald Trump, who neither signed nor vetoed it. If no action is taken, the bill will become law at midnight, according to the report.
The bill’s central bank digital currency provision prohibits the Federal Reserve from issuing central bank digital currencies until the end of 2030. The report said that while there has been no serious effort to launch a central bank digital currency, the cryptocurrency industry and Republican lawmakers have long opposed any possibility of that happening.
The House Financial Services Committee highlighted this ruling on June 23 press release Regarding the House of Representatives’ approval of the housing bill, he said: “The bill includes a ban on the issuance of central bank digital currency (CBDC) until December 31, 2030.”
It was reported in June that CBDC Council It was added to the housing bill by Republican politicians who are concerned that the technology could be used for government surveillance. It was also reported that this provision was added to the bill to help secure Republican support in the House for its passage.
When a previous version of the housing bill with CBDC Council During Senate consideration in March, three groups focused on digital assets expressed support for the provision.
Digital room CEO Cody Carbone “Financial privacy is a cornerstone of American freedom, and any decision to allow central bank digital currency must remain in the hands of Congress and the American people,” he said.
Blockchain Association CEO Summer Mersinger “A government-issued central bank digital currency (CBDC) would threaten core American values — financial privacy, civil liberties, and limits on state power — by giving the government unprecedented insight into (and potential influence on) daily transactions,” he said.
the Crypto Innovation Council “Legislative certainty on this topic will help foster private sector innovation that drives U.S. leadership in digital assets while protecting Americans’ privacy,” he said.
PYMNTS reported in January 2025 that when Trump signed an executive order, “Strengthening American leadership in digital financial technology“, which touched on many of the wants, needs and concerns of the cryptocurrency sector, included a clause prohibiting the development of… CBD.
