The US Congress is moving closer to writing a ban on the digital dollar into law. House and Senate leaders have introduced an updated version of the 21st Century Road to Housing Act, which includes a provision blocking the Federal Reserve from issuing a central bank digital currency, or CBDC, until 2030.
The measure places one of Washington’s most controversial crypto debates inside a much broader housing bill. While the legislation is mainly focused on housing affordability and restrictions on institutional investors buying single-family homes for rent, its CBDC provision could have major consequences for the future of digital money in the United States.
A Housing Bill With A Digital Dollar Ban
A bipartisan group of lawmakers released the updated bill language on June 16. The legislation’s main purpose is to make housing more affordable and limit the role of large institutional buyers in the single-family rental market. But the bill also includes language that would prevent the Federal Reserve from creating or issuing a digital dollar.
The CBDC ban has been part of the bill since March, when the Senate first voted on it. The House of Representatives approved its own version in May, but disagreements between the two chambers remained on several points. The Senate has now introduced additional amendments, which are expected to be sent to the House for a final vote.
The bill is expected to move quickly once Congress returns from recess on June 23.
According to the bill text, the Federal Reserve may not, directly or indirectly, “issue or create a central bank digital currency or any digital asset substantially similar to a central bank digital currency.” The restriction would remain in effect until December 31, 2030.
However, the bill makes an important exception for private stablecoins. It excludes dollar-denominated digital currencies that are described as open, unrestricted, and private. That distinction matters because it suggests Congress is not trying to stop all forms of digital dollars. Instead, lawmakers are drawing a line between a government-issued digital dollar and privately issued dollar-backed tokens.
A Republican Priority Moves Closer To Law
For Republicans, the bill could mark a major legislative win. Efforts to ban CBDCs have repeatedly stalled in Congress, even as conservative lawmakers have made the issue a central part of their financial privacy agenda.
The current language closely mirrors the Countering CBDC Surveillance Act, introduced by Congressman Tom Emmer in June 2025. The House approved that bill, but the Senate never took it up. By placing similar language inside a broader housing package, supporters of the CBDC ban may now have a clearer path to turning the proposal into law.
Critics of CBDCs have long argued that a government-issued digital currency could give the state too much control over payments and personal financial activity. They say a digital dollar would take technology associated with crypto and use it to create a centrally managed asset controlled by the Federal Reserve.
In January 2025, President Trump signed an executive order prohibiting federal agencies from working on CBDCs, citing risks to financial stability, privacy, and US sovereignty. The new bill would go further by putting a temporary ban directly into federal law.
The bill’s passage would also clear room on Congress’s agenda for other crypto-related measures before the August recess and the November midterm elections. One of the main priorities is the CLARITY Act, which aims to create a clearer regulatory framework for the cryptocurrency market.
Stablecoins Gain Room As CBDCs Lose Ground
The most important part of the bill may not be only what it bans, but what it leaves untouched. By restricting a Fed-issued digital dollar while allowing private dollar stablecoins, Congress is signaling a preference for private-sector digital money over a central bank-controlled alternative.
That creates a sharp contrast with Russia, which is moving in the opposite direction. Since January 1, 2026, the digital ruble has been available for budget transfers and fund transfers to federal agencies. The first budget payment by a legal entity in Chuvashia shows that the project is no longer only a pilot program, but part of a functioning payment infrastructure.
The two countries are now choosing very different paths. The US is preparing to freeze its central bank digital currency plans until 2030 while leaving space for private stablecoins. Russia, by contrast, is building a state-backed digital currency into public-sector payments.
The economic impact could also be significant. According to the National Rating Agency, the introduction of the digital ruble could cost Russian banks up to 95 billion rubles in annual commission income. That shows one of the biggest financial questions behind CBDCs: who controls payment flows, and who earns from them?
A CBDC can shift revenue and control away from commercial banks and toward the central bank. Private stablecoins, meanwhile, can move part of the monetary infrastructure toward private issuers. In both cases, digital money is not just a technical upgrade. It is a fight over control, privacy, and the future structure of the financial system.
