The U.S. Senate has vetoed the digital dollar: CBDC banned until 2030
The U.S. legislative body has taken a decisive step that changes the rules of the game for the entire financial system. The U.S. Senate approved a sweeping housing bill — the 21st Century ROAD to Housing Act — which, in addition to addressing the housing crisis, contains a sensational provision: a direct ban on the issuance of a digital dollar (CBDC) by the Federal Reserve System. The decision was passed by an overwhelming majority — 85 votes in favor versus 5.
This document is not merely a technical amendment. It represents a powerful political signal. The law directly prohibits the Federal Reserve Board of Governors and all federal reserve banks not only from issuing but even from developing any central bank digital currency or asset that is "substantially similar" to it. The ban is in effect until December 31, 2030. An important exception has been made for stablecoins — private dollar tokens — which, according to lawmakers, do not fall under this threat and remain within the legal framework.
The very linkage of the CBDC to the housing law is an unusual but effective tactical move. This allowed a norm unpopular with the Fed to be "smuggled" into a package of measures that were mandatory to pass. The initiative came from Republicans in the House of Representatives, who have long viewed a state-issued digital currency as a tool for total financial surveillance and a threat to citizens' privacy. House Financial Services Committee Chairman French Hill emphasized that "housing affordability begins with supply," and the new law, in his view, will make a significant step toward building new homes and reducing costs for American families.
What's next? Political context and the White House's position
The bill now heads to a vote in the House of Representatives, where Republicans plan to hold an expedited vote immediately after returning from recess on June 23. After that, the document will be sent to the president for signature. The Donald Trump administration has already taken a firm stance: Treasury Secretary Scott Bessent recently confirmed that the digital dollar is "definitively off the agenda." Instead, the White House is focusing on advancing a specialized digital assets law — the Clarity Act.
Notably, even without this ban, there was no active federal project to create a CBDC in the United States. Fed Chairman Kevin Warsh had previously stated his complete rejection of this idea. While the U.S. is abandoning the digital dollar, other countries, such as the EU, continue to move forward: the European Central Bank is preparing a pilot for the digital euro as early as next year.
My analysis: This historic decision does not just block a specific Fed project; it lays the foundation for a completely different model of the digital economy in the United States. Instead of state control through a CBDC, the American market is betting on private stablecoins and decentralized finance. This creates a unique competitive advantage for the crypto industry, but at the same time leaves the U.S. in the role of an "observer" of the global trend toward the digitalization of fiat currencies, which is already gaining momentum in Europe and Asia.