President Trump is withholding his signature on the 21st Century ROAD to Housing Act following its passage by overwhelming bipartisan margins, demanding Congress first send him a separate voter-citizenship measure the Senate blocked 48-50 on June 4. The housing bill, which cleared the Senate 85-5 on June 22 and the House 358-32, includes a four-year prohibition on a Federal Reserve central bank digital currency running through Dec. 31, 2030. Both vote tallies exceed the two-thirds threshold required to override a presidential veto, meaning the CBDC ban would still likely become law within days under constitutional procedure even without Trump's signature.
Congress Passes Housing Bill With CBDC Ban in Veto-Proof Margins
The Senate cleared the 21st Century ROAD to Housing Act in an 85-5 vote on June 22, and the House of Representatives followed with a 358-32 vote, sending the bill to the president's desk. The package carries a four-year prohibition on a Federal Reserve digital dollar. Trump declined to sign it on schedule, abruptly canceling a planned signing ceremony. Trump told reporters the Republican party remains "well-unified," even as he refuses to stage a signing ceremony until lawmakers act on the voter measure. Trump framed the impasse as a matter of party discipline rather than disagreement over the CBDC provision.
Trump Cancels Signing Ceremony Over Voter-ID Bill
Trump said he will not sign the housing bill until Congress sends him a separate measure requiring proof of citizenship to register to vote. The legislation Trump is holding out for is the Safeguarding American Voter Eligibility Act, which would require documentary proof of citizenship to register for federal elections. The delay has drawn criticism from both sides of the aisle. Democrats have accused the president of holding popular housing relief hostage to an unrelated partisan priority, while Republican leaders have urged patience and insisted the party remains united.
CBDC Ban Prohibits Fed Digital Dollar Through Dec. 31, 2030
The CBDC provision bars the Board of Governors of the Federal Reserve System, or any Federal Reserve bank, from issuing, creating, or circulating a central bank digital currency (directly or through any intermediary) through December 31, 2030. A central bank digital currency is a government-issued digital form of a nation's money. The bill carves out an explicit exemption for private dollar-denominated stablecoins that are "open, permissionless, and private," shielding tokens issued by companies such as Circle and Tether from the ban. Trump laid the groundwork for the prohibition in January 2025, when he signed an executive order barring his administration from any work on a retail digital dollar. He warned at the time that a government-run digital currency would threaten "the stability of the financial system, individual privacy, and the sovereignty of the United States." Crypto advocates have long argued that a Fed CBDC could enable government surveillance of transactions, and the industry has lobbied to write the ban into law.
Voter-ID Bill Failed Senate 48-50 on June 4
The voter-citizenship bill failed its most recent Senate vote on June 4, falling 48-50, with four Republicans (Senators Susan Collins, Lisa Murkowski, Mitch McConnell, and Thom Tillis) joining every Democrat to block it. Senate Majority Leader John Thune has since signaled he is unlikely to bring it back to the floor this session, leaving the standoff without an obvious resolution.
Stablecoin Regulation Moves Forward Under GENIUS Act
Lawmakers passed the GENIUS Act in July 2025 to regulate payment stablecoins, and six federal agencies are racing to finalize the rules by a July 18, 2026 deadline. By drawing a hard line against a state-issued CBDC while leaving room for private stablecoins, the housing bill reflects the approach U.S. policymakers have increasingly favored: let the private sector issue digital dollars under federal supervision, and keep the central bank out of retail money.
International CBDC Efforts Contrast With U.S. Stance
More than 130 countries representing the bulk of global gross domestic product (GDP) have explored central bank digital currencies, and several (including China with its digital yuan) have moved to pilot or launch them. A four-year U.S. ban would leave the world's largest economy on the sidelines of a technology its main geopolitical rivals are actively deploying.
FAQ
What did Trump do after Congress passed the housing bill on June 22?
Trump withheld his signature on the 21st Century ROAD to Housing Act after it cleared the Senate 85-5 on June 22 and the House 358-32, canceling a planned signing ceremony. He stated he will not sign the housing bill until Congress sends him a separate voter-citizenship measure.
Why did the voter-ID bill fail in the Senate on June 4?
The Safeguarding American Voter Eligibility Act failed its Senate vote on June 4, falling 48-50, with four Republicans (Senators Susan Collins, Lisa Murkowski, Mitch McConnell, and Thom Tillis) joining every Democrat to block it. Senate Majority Leader John Thune has signaled he is unlikely to bring it back to the floor this session.
How does the CBDC ban affect private stablecoins?
The CBDC provision prohibits the Federal Reserve from issuing a central bank digital currency through Dec. 31, 2030, but carves out an explicit exemption for private dollar-denominated stablecoins that are "open, permissionless, and private," shielding tokens issued by companies such as Circle and Tether from the ban.
