U.S. housing bill with Fed CBDC ban set to take effect without Trump's signature

A bipartisan U.S. housing package containing a multiyear prohibition on the Federal Reserve issuing or creating a central bank digital currency (CBDC) is expected to become law after President Donald Trump declined to sign it. The legislation, titled the "21st Century ROAD to Housing Act," has sat on the president's desk for roughly 10 days excluding Sundays. Under the U.S. Constitution, that timeline allows the measure to take effect automatically if the president neither signs nor vetoes it within the prescribed window. Trump previously scrapped a planned signing event and on Friday again said he would not sign the bill, according to a post on Truth Social. He urged Senate Republicans to prioritize the SAVE America Act, a separate voting-related proposal that has drawn criticism for requiring in-person proof of U.S. citizenship to register. The bill's most closely watched crypto-related element is a provision barring the Federal Reserve from issuing or creating a CBDC—or any digital asset deemed "substantially similar"—through Dec. 31, 2030. Trump's Friday remarks did not address that CBDC language directly. As the constitutional deadline nears, the measure's fate hinges on procedure rather than an affirmative signature. Senator Elizabeth Warren, a cosponsor, said the bill would become law regardless of Trump's refusal, according to comments cited in coverage. Market participants are also weighing whether the episode signals potential friction for other digital-asset legislation. Attention is on the Digital Asset Market Clarity (CLARITY) Act, described by stakeholders as a major market-structure proposal. Prior reporting said it has passed the House and cleared two key Senate committees, with Republican leaders expecting a full Senate vote in July after lawmakers return from state work periods. The housing bill dispute underscores that legislative outcomes may depend as much on cross-party bargaining and the president's willingness to sign as on the underlying policy. An added political layer is Trump's disclosed financial ties to crypto; earlier reporting cited more than $1.4 billion in 2025 income linked to crypto ventures, including memecoins and the family's World Liberty Financial platform. With the housing measure poised to take effect through timing rules, investors and industry observers are likely to track the Senate calendar, floor scheduling for the CLARITY Act, and any signals from Trump on whether he may withhold signatures from future crypto-relevant bills.