The U.S. Congress is pushing forward a bill that includes restrictions on CBDCs. The latest revision proposes to prohibit the Federal Reserve from directly or indirectly issuing or creating a central bank digital currency, or issuing digital assets that are substantially similar to it, before December 31, 2030.
This content has been incorporated into a larger housing bill. While the bill originally focused primarily on housing affordability and restricting large-scale purchases of single-family homes for rental by institutional investors, its digital dollar provisions could potentially influence the future trajectory of U.S. digital currencies.
The terms are being coordinated between the two houses.
Lawmakers from both parties released the updated text of the bill on June 16. This is not the first time restrictions on CBDCs have appeared. The Senate included similar provisions during its March vote, and the House passed its own version in May.
Currently, the two houses still disagree on some clauses. Following the Senate's latest amendment, the text is expected to be sent back to the House for a final vote. The report indicates that Congress will expedite the bill's progress after its recess on June 23.
Private stablecoins were not included.
According to the text of the bill, the Federal Reserve is prohibited from directly or indirectly issuing or creating central bank digital currencies, or any digital assets substantially similar to them. This restriction will remain in effect until the end of 2030.
However, the bill does not include all digital dollars in the restrictions. The text explicitly excludes open, unrestricted, and privately-owned digital currencies denominated in US dollars. This means that the current target is government-issued digital dollars, not stablecoins issued by private institutions.
After years of Republican push, it is nearing implementation.
For Republicans, this arrangement could represent a legislative step forward on financial privacy. Lawmakers opposed to CBDCs have long argued that government-issued digital currencies could expand control over payments and personal financial activities.
The existing text is similar to the "Anti-CBDC Surveillance Act" introduced by Representative Tom Emmer in June 2025. The latter passed the House but failed to advance further in the Senate. Now, with similar provisions incorporated into a broader housing bill, the path to its implementation has become clearer.
Furthermore, Trump signed an executive order in January 2025 prohibiting federal agencies from pursuing CBDC-related work, citing reasons including financial stability, privacy, and U.S. sovereign risks. If this bill passes, these restrictions will escalate from the executive level to the level of federal law.
Additional information:The article mentions that Russia has allowed the digital ruble to be used for budget transfers and fund allocations to federal agencies since January 1, 2026, indicating a more pronounced divergence among major economies on the path of CBDC.
