The U.S. Senate has passed a bipartisan housing bill that prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) through the end of 2030. The bill's prospects in the House remain uncertain, with some lawmakers objecting to provisions restricting institutional investors from holding residential property. The provision reinforces the position that the private sector should lead innovation in digital assets.

Gate News Report: On March 12, US Senate Majority Leader John Thune stated that the Senate plans to advance cryptocurrency market structure legislation and licensing-related legislation after completing debate on the "Save America Act" ( voter identification legislation ). John Thune said that senators are advancing this long-awaited cryptocurrency market structure bill and indicated that if there is a willingness for bipartisan cooperation, the Senate can make progress on multiple issues of common bipartisan concern. The "Save America Act" is expected to undergo partisan debate in the Senate next week.