A four-year prohibition on the Federal Reserve issuing a central bank digital currency has been folded into the 21st Century ROAD to Housing Act, a broad legislative package that bypassed standalone debate over digital money. The bill passed the Senate 85-5 on June 22 and cleared the House 358-32 the following day, signaling rare bipartisan agreement against a government-backed digital dollar. The measure leaves the field open to private stablecoin issuers such as Circle and Tether, which stand to benefit from the absence of a Fed competitor. Supporters frame the ban as protecting financial privacy and limiting government surveillance, while critics argue it cedes ground in the global race over digital currency infrastructure. The temporary nature of the prohibition suggests the broader debate over how the United States approaches digital money is far from settled.
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