US Congress Deal Pauses Fed CBDC Until 2030
The US Congress has reached a bipartisan agreement on a major housing bill that includes a provision prohibiting the Federal Reserve from issuing a central bank digital currency until 2030.
According to Bloomberg, US congressional leaders have struck a deal on what is described as the largest housing bill in a generation, ending a prolonged standoff between the House and Senate. The bill includes a key provision that would bar the Federal Reserve from launching a central bank digital currency (CBDC) until at least 2030.
The CBDC moratorium is a notable win for cryptocurrency advocates who have expressed concerns about government-controlled digital currencies. While the main focus of the legislation is housing policy, the digital dollar pause adds a significant crypto-related element to the package.
The bill now moves toward final votes before potentially reaching the president's desk. Market participants are watching closely as a prolonged CBDC prohibition could support demand for decentralized cryptocurrencies.
Source: Cointelegraph