On March 3rd, the U.S. Senate overwhelmingly passed a housing reform bill that includes provisions restricting central bank digital currencies (CBDCs). This legislative development could have a profound impact on the future development of the digital dollar in the United States. The bill was approved with 84 votes in favor and 6 against, a rare display of bipartisan support in recent major policy votes.
Titled the “21st Century Housing Act,” the legislation is a substitute amendment to H.R.6644, covering multiple areas such as housing supply, affordability, and financial regulation. The bill was jointly introduced by Senate Banking Committee Chairman Tim Scott and Senator Elizabeth Warren, representing a significant overhaul in housing policy and financial regulation.
Among many provisions, the most closely watched by fintech and crypto industries is the regulation concerning CBDCs. Section 10 of the bill explicitly states that, without explicit authorization from Congress, the Federal Reserve shall not issue a U.S. central bank digital currency. This language is interpreted as setting new institutional hurdles for the digital dollar initiative.
In recent years, U.S. policymakers have engaged in intense discussions over CBDCs. Some lawmakers worry that digital currencies could enhance financial surveillance capabilities, alter the existing banking infrastructure, and pose potential privacy challenges for individuals. As a result, there has been clear division within Congress regarding the regulatory framework for the digital dollar.
Aside from the digital currency provisions, the core focus of the bill remains on housing reform. The proposal aims to expand housing supply, improve housing assistance programs, reduce regulatory barriers, and adjust rules related to prefabricated housing and mortgage accessibility. Supporters believe these measures will help address the longstanding housing shortage in the U.S. and improve homeownership and rental conditions for residents.
The Senate’s decisive vote demonstrates a rare bipartisan consensus on housing policy issues. However, since the bill also involves fintech regulation, it may face further discussion and amendments during the subsequent review in the House of Representatives.
If ultimately enacted into law, this bill could become one of the most significant housing reform initiatives in recent U.S. history and serve as an important policy signal from Congress regarding the future of the digital dollar and CBDC regulation.
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
Federal Reserve Chair Williams Addresses the Worsh Nomination Stalemate, Says It Won’t Affect the Continuity of the Committee’s Work
There is uncertainty regarding Kevin Walsh’s nomination for Federal Reserve chair, because Republican senators oppose moving forward with the nomination, especially as Powell is still under investigation. New York Fed President Williams said this uncertainty does not affect the Federal Reserve, and Powell can continue serving in his position before Walsh is confirmed.
GateNews30m ago
FX Bank Societe Generale: If the Federal Reserve keeps interest rates unchanged this year, the U.S. dollar may trade within a range
French banking analyst Kit Juckes issued a report stating that if the Federal Reserve keeps interest rates unchanged this year, the U.S. dollar will fluctuate. The market expects G10 central banks to raise rates, but Sweden’s economic growth forecast is only slightly higher than that of the United States, which limits the dollar’s appreciation. If the Federal Reserve cuts rates, the dollar could fall.
GateNews31m ago
Federal Reserve Chair Williams: If necessary, monetary policy can be adjusted; for now, we can wait and see how things develop.
Gate News message, April 7, the Federal Reserve’s Williams said that the monetary policy can be adjusted if necessary; for now, it may be observed for the time being. He expects this year’s GDP growth to be 2% to 2.5%, with the unemployment rate remaining stable. Williams noted that the labor market situation is quite complex and expects that core inflation will fall later this year.
GateNews1h ago
Bitcoin is negatively correlated with the global easing breadth index; this week, ETFs recorded their largest net inflow since February
The negative correlation between Bitcoin and global central bank monetary policy suggests that institutional capital has already positioned itself ahead of a potential easing cycle. In the recent spot ETF net inflows have hit a new high, but the market remains choppy and unstable, with weak demand. Corporate allocation has slowed, volatility in the options market has increased, and traders are more inclined to add downside protection.
GateNews2h ago
The central banks of Korea and France team up to discuss digital assets: stablecoin regulation accelerates as global rules are being reshaped
The Bank of Korea and France’s foreign exchange bank held a seminar in South Korea on digital assets and climate-related issues, discussing the impact of central bank digital currency and stablecoins on the financial system. During the meeting, countries discussed how to balance financial innovation and regulation, showing the global emphasis on collaborative research in digital finance.
GateNews7h ago
BlueBay Chief Investment Officer: Japan’s Prime Minister may also be hoping to delay the Bank of Japan’s interest rate normalization
BlueBay Chief Investment Officer Mark Dowding reported that Japan’s Prime Minister Sanae Takaichi is focused on economic growth and may delay the central bank’s normalization of interest rates. He noted that a dovish policy could lead to concerns about inflation and put pressure on Japan’s government bond yield curve, with expectations that the yield curve for 10- to 30-year government bonds will continue to flatten further.
GateNews7h ago
