The U.S. Senate has vetoed the digital dollar: CBDC banned until 2030
The U.S. legislative body has taken a decisive step that could redefine the future of central bank digital currencies (CBDCs) in the United States. The Senate approved the 21st Century ROAD to Housing Act, which introduces a temporary but strict ban on the issuance of a digital dollar by the Federal Reserve System (Fed). According to the document, the Fed is prohibited from issuing a CBDC or any digital assets substantially similar to it until the end of 2030. The ban covers all channels: direct issuance, operations through financial institutions, and any third-party intermediaries.
Political Consensus and Rare Unity
The vote demonstrated rare bipartisan unity — 85 senators voted in favor, with only five voting against. Such overwhelming support indicates deep skepticism among lawmakers regarding state-managed digital currencies, particularly in the context of potential threats to financial privacy and citizen sovereignty.
Exception for Cash and the Future of CBDC
The bill provides an important exception: traditional dollar currency is not subject to the ban, remaining open, requiring no special permissions, and preserving the anonymity inherent in cash. Moreover, even after the temporary moratorium expires in 2030, the Fed will not be able to launch a CBDC without obtaining separate, direct approval from Congress. This means that any move toward a digital dollar in the foreseeable future will require not just an administrative decision, but a full legislative act.
Next Stage: The House of Representatives
The fate of the bill now moves to the House of Representatives. If the lower chamber also approves the document, it will be sent to the president for signature. Given the current political climate, where concerns about state control over finances and data privacy are becoming key, the likelihood of the law being passed is extremely high.
Analytical Commentary: This decision is a powerful signal to the market. The U.S. is effectively stepping back from the CBDC race, at least at this stage, betting on preserving the traditional financial system and privacy. For the crypto industry, this is a dual signal: on one hand, it reduces the risk of a state-issued digital dollar that could compete with stablecoins; on the other, it underscores that regulators will strictly control any attempts to introduce digital currencies without public approval through their representatives.