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FollowingA comprehensive U.S. housing bill that prohibits the Federal Reserve from issuing central bank digital currencies until 2030 automatically became law at midnight without President Donald Trump signing it.
Key Points
The 21st Century Housing Pathway Act automatically became law after the 10-day window stipulated in the Constitution without Trump signing or vetoing it.
The bill prohibits the Federal Reserve from issuing central bank digital currency or any substantially similar digital asset before December 31, 2030.
Analysts warn that the standoff could herald trouble for the Digital Asset Markets Clarity Act later this summer.
CBDC ban comes into effect
The 21st Century Housing Road Act, a bipartisan package of bills designed to promote housing construction and curb corporate landlords, automatically took effect at 11:59 p.m. ET on Friday without the president signing or vetoing it. The constitutional 10-day deadline begins on June 29, when House Speaker Mike Johnson submitted the bill to the White House. Under the Constitution, if the president does not act within 10 days while Congress is in session, a bill does not need to be signed to become law. Trump posted on the "Truth Social" platform Friday morning that he would not sign the bill, writing: "I will not sign the housing bill." He viewed the refusal to sign as a protest against the Senate's failure to pass the Save America Act, his voter identification bill that requires personal proof of citizenship to register voters. The bill passed Congress overwhelmingly, with the Senate voting 85 - 5 and the House voting 358 - 32. Lawmakers added a clause to the package that prohibits the Federal Reserve from issuing central bank digital currency or any substantially similar digital asset until December 31, 2030.
Warren Reaction and Crypto Interests
A White House official confirmed that Trump had no plans to formally veto it, although he had previously scheduled a signing ceremony and then abruptly cancelled it. Senator Elizabeth Warren, who supports the bill, said the "good news" is that the bill will become law no matter what. Trump's posts never mentioned anything related to the central bank's digital currency. Crypto companies have long opposed the digital dollar, an idea industry allies believe could open the door to government surveillance while crowding out private stablecoins. The Federal Reserve itself has little interest in digital dollars, saying any issuance requires explicit approval from Congress. Analysts still warn that the Digital Asset Markets Clarity Act, which the Senate hopes to pass this summer, could face a similar deadlock if Trump again links his signature to unrelated election requirements. The new limit continues a battle that runs through Trump's second term, which began in January 2025 with an executive order instructing federal agencies to stop research on digital dollars. House Republicans 'opposition to the central bank's digital currency also briefly derailed the stablecoin legislation that year, and the GENIUS Act was finally passed, while the current housing bill legally locks the ban until the end of 2030.
