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In the U.S., a proposal has been made to set a deadline for the ban on the launch of a digital dollar., 2026/03/04 17:27:41
A bipartisan bill that outlines when the U.S. Federal Reserve (Fed) may be permitted to launch its own central bank digital currency (CBDC) has passed a vote in the American Senate. A total of 84 senators voted in favor of the bill, while only six opposed it.
The legislation was introduced by Senate Banking Committee Chairman Tim Scott from the Republican Party and Massachusetts Democratic Senator Elizabeth Warren. While the bill primarily addresses housing construction, it also includes a provision that temporarily prohibits the Fed from issuing a retail digital dollar.
The document states that the agency is not allowed to issue a CBDC directly or indirectly through a financial institution or another intermediary. The proposed end date for the ban is December 2030. After this date, the Fed may launch a retail CBDC unless Congress extends the ban or imposes new restrictions.
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The Senate has expressed support for the bill. In January 2025, President Donald Trump signed an executive order prohibiting federal agencies from creating, issuing, and promoting central bank digital currencies. Trump argued that CBDCs could pose a threat to citizens’ privacy, the country’s financial stability, and its national sovereignty. However, without legislation, the executive order cannot function on its own.
During the Trump administration, a working group on cryptocurrencies was established to clarify the requirements for crypto companies.
Last year, Federal Reserve Board member Christopher Waller indicated that the agency is exploring the possibilities of tokenization, smart contracts, and artificial intelligence for the payments market.
