Trump halts housing legislation signing ceremony amid CBDC prohibition provisions
The housing legislation known as the 21st Century ROAD to Housing Act contained language preventing the Federal Reserve from launching a CBDC through 2030, while carving out exceptions for specific stablecoins.
President Donald Trump has called off the scheduled signing ceremony for housing legislation that features a prohibition on central bank digital currencies (CBDCs), as he pressures Republican lawmakers in Congress to make a contentious voting rights bill their top priority.
Through a Truth Social statement posted Wednesday morning, Trump announced the cancellation of the signing event for the 21st Century ROAD to Housing Act, which had successfully passed both chambers of Congress, stating it would be postponed "until such time as we pass the desperately needed SAVE America Act."
The housing legislation, which received House approval on Tuesday, contained language specifically prohibiting the Federal Reserve from launching or developing a CBDC "or any digital asset that is substantially similar" through the conclusion of 2030. Nevertheless, the bill also featured an exemption for stablecoins, permitting "dollar-denominated currency that is open, permissionless and private."
Numerous observers had anticipated Trump would sign the legislation, designed to address housing affordability challenges, into law on Wednesday without complications. Nevertheless, the president stated in March that he would "not sign other bills" until Congress approved the SAVE America Act.
The proposed legislation would mandate that voters present proof of US citizenship in person for voter registration purposes.
This is a developing story, and further information will be added as it becomes available.