The Federal Reserve is set to be prohibited from issuing a central bank digital currency by the e...
BlockBeats News, June 23rd - On the evening of June 22nd, the U.S. Senate overwhelmingly passed the "21st Century Housing for a Fair Recovery Act" with a vote of 85-5. The bill has now been sent to the House of Representatives, where it is expected to pass quickly and be signed into law by President Trump. A key additional provision in the bill is a Central Bank Digital Currency (CBDC) ban, which will prevent the Federal Reserve from issuing a CBDC or any substantially similar digital asset by the end of 2030, even indirectly through financial institutions. The bill explicitly exempts private stablecoins (such as USDC, USDT).
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