Private stablecoin issuers just got protection from Fed competition through 2030. [H.R. 6644](https://www.govinfo.gov/content/pkg/BILLS-119hr6644enr/html/BILLS-119hr6644enr.htm) bars only a direct Fed liability offered broadly to the public; [USDT and USDC already hold 82.5% of the $312.3B stablecoin market](https://defillama.com/stablecoins), while private stablecoins and tokenized bank deposits stay outside Section 1101.

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U.S. Senate passes housing bill containing a four-year ban on a Federal Reserve CBDC, advancing efforts to formally block a digital dollar despite limited Fed development

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Kraken becomes first crypto firm to win a Federal Reserve master account, gaining direct access to Fedwire interbank payments

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Digital asset funds saw $454 million in weekly outflows, extending a four-day $1.3 billion withdrawal streak that nearly erased $1.5 billion in year-to-date inflows as expectations for a March Federal Reserve rate cut faded.

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