US Congress agrees housing bill banning Fed CBDC until 2030

US Congressional leaders have reached an agreement on a housing bill that includes a significant provision banning the Federal Reserve from issuing a central bank digital currency (CBDC) until December 31, 2030. This legislation aims to address housing affordability by also limiting the capacity of institutional investors to acquire single-family homes. The Senate has voted 87-8 to commence deliberation on this bipartisan housing bill, which is intended to lower housing costs and increase the overall housing supply.

In parallel efforts to address housing costs and development, U.S. Representatives Mike Flood and Maggie Goodlander have introduced the Build Housing Affordably Act. This bill seeks to temporarily suspend 'Buy America' requirements for specific affordable housing initiatives. The objective is to decrease construction expenses and accelerate development schedules by reducing federal regulatory hurdles.

Separately, the gaming industry, represented by groups including tribes and unions, is actively lobbying the Senate. They are advocating for the inclusion of language within pending cryptocurrency legislation that would prohibit sports prediction markets. These groups contend that such platforms operate as unregulated gambling venues, circumventing established consumer protections and state-level regulations.

The Senate's vote to begin considering the housing bill indicates progress on these legislative fronts. The inclusion of the CBDC ban until 2030 and measures against institutional home buying are key components of the agreed-upon housing legislation.