Trump halts housing bill with 4-year CBDC ban, demands SAVE Act

Trump's decision to cancel the signing puts a four-year CBDC prohibition in legislative limbo and threatens the timeline for the crypto industry's primary legislative goal, the Clarity Act.

President Donald Trump canceled the signing of a bipartisan housing bill containing a four-year ban on a Federal Reserve CBDC, demanding Congress first pass the SAVE America Act voter ID legislation.

"Today's Housing News Conference and Signing is hereby cancelled until such time as we pass the desperately needed SAVE AMERICA ACT, which I consider to be a National Emergency," Trump wrote on Truth Social on Wednesday.

The housing legislation — the 21st Century ROAD to Housing Act — passed both chambers with veto-proof majorities and included a prohibition on the Fed issuing a digital dollar through the end of 2030. Trump had previously signed an executive order last year barring any U.S. moves toward a CBDC, arguing it would "threaten the stability of the financial system, individual privacy, and the sovereignty of the United States."

The delay also threatens the Digital Asset Market Clarity Act, the crypto industry's central legislative priority, which has roughly five weeks remaining in the Senate session before the summer recess. Any further delays could derail the market structure bill's chances of becoming law in 2026.

The SAVE America Act would require documented proof of citizenship and photo identification to register to vote. The legislation passed the House but has stalled in the Senate, where Republican leaders have struggled to secure enough support. Speaker Mike Johnson told reporters the bill "has been stuck in the Senate" and needs to be attached to a budget measure.

Trump had warned in March that he would block all other legislation until the SAVE Act reached his desk, though he had still planned to attend Wednesday's signing ceremony before abruptly canceling it hours beforehand. In a separate Truth Social post, he dismissed the housing bill as "of minor importance" compared to lower interest rates and the reauthorization of the Foreign Intelligence Surveillance Act, while criticizing Democratic Senator Elizabeth Warren, a co-sponsor, calling it "Warren centric."

Senator Warren responded on X: "Huge bipartisan majorities in Congress passed a bill to lower housing costs. But at the 11th hour, Donald Trump is refusing to sign it into law. His policies have made your costs go up — and he doesn't care."

Clarity Act Timeline at Risk

The standoff creates a timing problem for the Digital Asset Market Clarity Act, which would establish a federal framework for crypto market structure. The Senate has roughly five weeks before its summer break, and the industry's allies have limited time to resolve remaining disagreements and bring the bill to a floor vote. If the Clarity Act fails to pass in 2026, the legislative process would need to restart in the next Congress.

Under the Constitution, Trump has a 10-day window to sign or veto the housing bill once it reaches his desk. If he takes no action while Congress remains in session, the bill would become law without his signature — though the CBDC ban and other provisions would take effect only after enactment. The housing bill passed with veto-proof majorities in both chambers, meaning Congress could override a veto if Trump chooses that route.

This article is for informational purposes only and does not constitute investment advice.