EVERYTHING
According to Cointelegraph, a bipartisan group of House and Senate leaders released an updated version of the 21st Century Road to Housing Act on Tuesday. While the primary focus of the legislation concerns housing affordability, it notably retains a provision that would prevent the Federal Reserve from creating a central bank digital currency (CBDC) for several years.
Legislative timeline and CBDC restrictions
The updated bill maintains a clause stating that the Federal Reserve may not, directly or indirectly, "issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency." This specific restriction is set to remain in effect until December 31, 2030. The inclusion of this ban follows a period of intense negotiation between the House and Senate, where previous standalone attempts to block CBDCs had stalled in Congress.
House Republican leaders are expected to bring the bill to a vote after the House returns from recess on June 23. This development represents a significant victory for proponents of the ban who have sought to limit the Federal Reserve's role in digital finance. The legislative move complements an executive order signed by President Donald Trump in January 2025, which prohibited federal agencies from engaging in any work related to CBDCs due to concerns over financial stability and individual privacy.
Crypto industry influence in US elections
The political landscape surrounding digital assets is also being shaped by significant campaign spending. Reports indicate that the cryptocurrency-backed political action committee (PAC) Defend American Jobs, affiliated with Fairshake, has been actively funding various races:
These expenditures highlight the growing influence of the crypto industry in national elections as it seeks to shape the regulatory environment for digital currencies and central bank initiatives.
European regulatory hurdles
While US lawmakers focus on domestic policy, international markets face different pressures. With the EU’s July 1 MiCA deadline approaching, crypto companies must secure authorization to operate across the bloc. However, uncertainty remains as reports suggest Greek regulators may reject Binance's license application, potentially impacting the world's largest exchange by trading volume.