Housing bill that includes a CBDC ban passed into law without Trump's signature

A major housing bill called the 21st Century ROAD to Housing Act, which includes a provision that bans the Federal Reserve from issuing a central bank digital currency, has become law.

On Friday, that bill became law even after President Donald Trump said he would not sign it unless Congress first passes legislation requiring proof of citizenship to vote in federal elections. The housing bill passed 85-5 out of the Senate and 358-32 out of the House last month.

On Friday morning, Trump said he would not sign it.

"I will not sign the Housing Bill, which has been fully approved by Congress and sent to the White House, in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT," he said in a Truth Social post.

A section in the Constitution says that once a bill is presented to the president, they can sign it or veto it, but if the president does nothing for 10 days, the bill automatically becomes law without a signature.

The 21st Century ROAD to Housing Act is a major bipartisan U.S. housing bill set to make housing more affordable, in part through encouraging more construction and more financing options. One part of that bill impacts the crypto industry — a ban on CBDCs.

A CBDC is a digital form of fiat money, directly issued and regulated by the central bank of a country. Some countries have explored the idea of creating the assets and have launched pilot programs over the years.

The Federal Reserve has been exploring the possibility of issuing a CBDC and released a report in 2022 examining the pros and cons of a CBDC, but central bank officials have thrown cold water on the idea in the past.

The Federal Reserve has said it would not issue a CBDC without the explicit go-ahead from Congress, but blocking a CBDC has become a priority for some Republicans. The issue came up when lawmakers sought to pass a stablecoin law, called the GENIUS Act, last year. At the time, votes for the law crumbled after Republicans, including former Rep. Marjorie Taylor Greene voted no, voicing concerns about the act's treatment of CBDCs and wanting them banned.