The U.S. Senate voted 85-5 in favor of the Affordable Housing Act, into which Republicans inserted a ban on the creation of a digital dollar by the Federal Reserve. According to the text of the law, the Federal Reserve will not be able to issue or create a CBDC or similar digital assets either directly or through intermediaries. The ban is effective until the end of 2030.
New Fed Chair Kevin Warsh, during his confirmation hearing, described CBDCs as “a bad policy decision.” Back in January 2025, Trump signed an executive order prohibiting his administration from taking any steps toward a digital dollar.
The bill now moves to the House of Representatives, which could vote on it as early as today. Once signed by Trump, the ban will become law.
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