π§΅ Legal thread of the week: Congress just banned the Fedβs digital dollar until 2031
The House just passed a housing bill 358-32 that also bars the Federal Reserve from issuing a
#CBDC until December 31, 2030. π
ποΈ The Senate cleared the same package days earlier with overwhelming support.
The bill now sits on President Trumpβs desk.
π Title XI of the 21st Century ROAD to Housing Act prohibits the
#Fed from issuing or creating a CBDC, or any digital asset βsubstantially similarβ to one, without a separate act of Congress.
π‘ A central bank digital currency would be government-issued digital dollars under direct central bank control.
This law treats any such instrument the same as new paper currency: it requires explicit legislative approval.
ποΈ The core of the bill focuses on housing supply.
It cuts red tape on construction, modernizes federal programs, and restricts large institutional investors from buying up single-family homes.
The CBDC provision aligns with the current administrationβs position.
Treasury Secretary Scott Bessent has stated that central bank digital currencies are βoff the table.β
Congress has now required its own approval before the Federal Reserve can create anything resembling a programmable digital dollar.
That line matters.
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