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Donald Trump has 10 days to decide on housing bill with CBDC ban
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- DeepHorus
President Donald Trump has 10 days to decide whether to sign bipartisan housing legislation containing a ban on a central bank digital currency (CBDC) into law. House Speaker Mike Johnson transmitted the 21st Century ROAD to Housing Act to Trump's desk on Monday, initiating a 10-day timeline under the US Constitution, excluding Sundays. The bill, passed by the House last week, includes a provision barring the Federal Reserve from issuing or creating a CBDC until 2030. This development comes as Trump prioritizes a controversial voting bill over the housing legislation.
The 21st Century ROAD to Housing Act seeks to address housing affordability and supply, but its CBDC ban has become a focal point. Sponsored by Senator Elizabeth Warren, the bill garnered significant bipartisan support, with the CBDC provision added to attract Republican votes. Trump reportedly called the legislation a "yawn" and sarcastically referred to the situation as a "big deal." He canceled a signing ceremony on Wednesday, urging Republicans to focus on passing the SAVE America Act, which would require in-person proof of citizenship for voter registration and potentially disenfranchise millions.
The bill's journey to Trump's desk highlights ongoing tensions over digital currency regulation. The CBDC ban prohibits the Federal Reserve from issuing "any digital asset that is substantially similar" to a CBDC until 2030. This reflects broader congressional skepticism toward central bank digital currencies, despite their exploration by other nations. The housing bill itself passed with bipartisan backing, with Democrats and Republicans praising its provisions.
Reactions from key lawmakers underscore the bill's significance. Senator Warren called for action, stating, "We should be celebrating a bipartisan housing law. Instead, we have a call to action. Mr. President: sign the damn bill." The White House has not officially commented, but Trump's earlier social media post supporting the CLARITY Act—a separate digital asset market structure bill—adds complexity. The Senate is on a state work period until July 13, after which it has four weeks to address the CLARITY Act before another break in August.
If Trump vetoes the housing bill, Congress could override his decision with a two-thirds majority in both chambers. However, given the bipartisan support, such an override may be feasible. The outcome will signal the administration's stance on CBDCs and housing policy. Trump's 10-day window ends on July 5, excluding Sundays, meaning a decision is expected shortly.
The broader implications involve the future of digital currency regulation in the US. A veto could embolden CBDC opponents, while signing would temporarily halt Fed efforts. The housing bill's fate also affects millions of Americans seeking affordable housing. With the CLARITY Act pending, lawmakers face a packed schedule, raising questions about legislative priorities in the coming months.
