A major housing bill, the 21st Century ROAD to Housing Act, which contains a provision prohibiting the Federal Reserve from creating a central bank digital currency (CBDC), has become law without the president's signature.

 

The 21st Century ROAD to Housing Act, which was sent to the White House, was not signed by President Trump despite receiving overwhelming bipartisan support in both the House of Representatives and the Senate. The bill passed the House by a vote of 358 to 32 and the Senate by a vote of 85 to 5.

 

Despite the wide margin of support in Congress, President Trump declined to sign the bill, saying he did so in protest of lawmakers' failure to pass separate election legislation.

 

"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," Trump wrote on Truth Social.

 

Trump had repeatedly urged Congress to pass the SAVE America Act, which would require proof of citizenship to vote in federal elections and impose voter identification requirements. However, the bill failed to secure the 60 votes needed to advance in the Senate.

 

Under the U.S. Constitution, a bill becomes law without the president's signature if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress remains in session. Because the 21st Century ROAD to Housing Act was sent to the White House in late June and the 10-day period expired while Congress was still in session, it became law without the president's signature.

 

How the Bill Affects Crypto 

 

While the core of the bill was housing affordability, it included a provision that prevents the Board of Governors of the Federal Reserve System and the regional Federal Reserve Banks from issuing or creating a central bank digital currency (CBDC), either directly or indirectly through an intermediary.

 

The law also makes clear that nothing in the legislation should prevent an "open, permissionless, and private United States dollar-denominated currency" designed to preserve privacy protections similar to those of physical cash.

 

Although the ban on a CBDC is not permanent and will remain in effect through December 31, 2030, the bill's passage is noteworthy because it marks the first time the U.S. Congress has passed a law explicitly barring the Federal Reserve from issuing a central bank digital currency.