PANews March 3 Report: According to CoinDesk, the U.S. Senate Banking Committee has included a temporary ban on the Federal Reserve issuing Central Bank Digital Currencies (CBDC) in its latest bipartisan housing bill. The bill, titled the “21st Century Housing Act,” jointly proposed by Committee Chair Tim Scott and senior member Elizabeth Warren, aims to promote housing development in the U.S. by reducing regulatory barriers.
Within the 303-page bill, the two-page CBDC prohibition clause states that the Federal Reserve Board or Federal Reserve Banks shall not directly or indirectly issue or create CBDC or any similar digital assets through financial institutions or intermediaries. The ban is effective until December 31, 2030, and includes an exception for permissionless, private “dollar-denominated” currencies that fully preserve physical currency privacy protections. The White House issued a statement supporting the bill, explicitly endorsing the CBDC clause, stating it “prevents the development of CBDC that could pose significant threats to individual privacy and freedom.” Previously, Congress had attempted multiple times to pass similar bans; the House passed a standalone bill last year, but it has not yet been fully approved by Congress.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
South Korea Police Agency Sets First-Ever Dark Coin Management Guidelines, Virtual Assets Compressed by Approximately 54.5 Billion Korean Won Over Past 5 Years
Korea's National Police Agency completes draft virtual asset management directive, first time including dark coin management and clarifying software wallet solutions. Over the past 5 years, virtual assets worth approximately 54.5 billion won have been seized, with police planning to select private custodian institutions. Experts recommend establishing a government-led custody system.
GateNews8m ago
SEC Unveils Dual Regulatory Reform, OTC Quote Restrictions and Quarterly Reports Risk Disappearing
The U.S. Securities and Exchange Commission (SEC) has proposed two regulatory measures: First, revising Rule 15c2-11 to apply only to equities, explicitly excluding other asset classes, which would have a positive impact on the cryptocurrency market; Second, considering the elimination of mandatory quarterly financial reports in favor of semi-annual reporting, which could reduce corporate costs but raises concerns about transparency and market volatility. Both proposals are currently under review.
MarketWhisper57m ago
US Cryptocurrency Tax Roundtable Postponed Again Due to Extreme Weather
Gate News reported that on March 17, the originally scheduled U.S. cryptocurrency tax roundtable was postponed again due to severe storms and tornado warnings. The severe weather caused widespread flight disruptions, and the two congressmen hosting the conference were also affected by flight delays and unable to arrive on time.
GateNews2h ago
US SEC Proposes Amendment to Rule 15c2-11 to Exclude Crypto Assets from Scope
The U.S. Securities and Exchange Commission proposes to amend Rule 15c2-11 under the Securities Exchange Act to limit its application to equity securities, thereby clarifying brokers' regulatory obligations regarding quotations in the over-the-counter market and preventing manipulation and fraudulent conduct.
GateNews3h ago
SEC Commissioner Hester Peirce: Welcome to explore tokenization, institutions actively communicate with regulators
US SEC Commissioner Hester Peirce stated that regulators maintain an open stance toward asset tokenization and novel trading products, encouraging companies to communicate with them. Peirce emphasized the desire to collaborate with the industry to ensure new financial products comply with legal requirements, and noted growing attention to high-leverage ETFs.
GateNews7h ago
