On March 4th, the U.S. Senate recently advanced a bipartisan housing bill called the “21st Century ROAD to Housing Act,” which explicitly restricts the Federal Reserve from issuing a central bank digital currency (CBDC) to the public before 2030. This clause is seen as a significant turning point in U.S. digital dollar policy and has reignited discussions about CBDC regulation and privacy risks.
According to reports, the bill mainly focuses on improving housing affordability while also incorporating policies to limit large institutional investors from purchasing single-family homes. After Senate Banking Committee Chairman Tim Scott and senior member Elizabeth Warren released the latest legislative text, the Senate approved the bill to move to the next stage with a vote of 84 in favor and 6 against.
Within the 303-page bill, two pages specifically prohibit the Federal Reserve from directly issuing retail CBDCs or doing so through financial institutions. The clause clearly states that the Federal Reserve Board and Federal Reserve Banks shall not create or issue any digital assets similar in nature to a CBDC. Some lawmakers see this as an important measure to protect financial privacy, as the introduction of a digital dollar could theoretically enhance government surveillance of financial data.
The White House has expressed support for the bill. If the final version remains unchanged, President Trump’s advisors are expected to recommend signing it into law. Trump has long been strongly opposed to CBDCs and publicly stated during his 2024 campaign that a CBDC could give the government excessive control over personal funds.
However, the 2030 expiration clause in the bill has also sparked controversy. Some policy analysts believe this ban is only temporary, and once the deadline passes, the Federal Reserve may resume efforts to develop a digital dollar. This indicates that the future of the U.S. central bank digital currency remains uncertain.
Notably, in early 2026, Trump signed an executive order titled “Strengthening America’s Leadership in Digital Financial Technologies,” which included restrictions on CBDC development. Compared to this, the time limit set by the current legislation is seen by some observers as a compromise on previous positions.
As countries worldwide advance pilot programs for CBDCs, U.S. regulatory attitudes toward the digital dollar are becoming a key indicator for global fintech policy. Market consensus suggests that debates over CBDC privacy, financial stability, and monetary policy impacts will continue in the coming years.
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