TLDR
- Congressional leaders reached a housing bill deal temporarily blocking Federal Reserve CBDC work until 2030.
- The measure bars Fed issuance of assets substantially similar to a central bank digital currency.
- Stablecoins receive a carveout for dollar-denominated currency that is open, permissionless, and private under the bill.
- The housing package restricts institutional purchases of single-family homes while updating federal assistance programs nationwide.
- Lawmakers are also expected to resume crypto policy work, including attention on the CLARITY Act.
US House and Senate leaders have reached an agreement on the 21st Century ROAD to Housing Act, a broad housing package that also includes a temporary CBDC ban until 2030. The agreement would prevent the Federal Reserve from creating or issuing a central bank digital currency while lawmakers advance housing policy changes. The measure now moves closer to final congressional approval after earlier versions passed both chambers with large bipartisan margins.
The bill passed the Senate in March and later cleared the House in May, although lawmakers continued negotiating differences between the two versions. The updated agreement combines housing affordability measures with banking and digital currency language that has drawn attention from crypto policy observers. House Republican leaders are expected to bring the bill back for a vote after lawmakers return from recess
The CBDC provision says the Federal Reserve may not, directly or indirectly, issue or create a central bank digital currency or a digital asset that is substantially similar. The restriction is scheduled to expire on Dec. 31, 2030. The language also creates a carveout for dollar-denominated stablecoins described as open, permissionless, and private.
Federal Reserve digital currency work faces pause
The CBDC ban revives much of the language from Representative Tom Emmer’s Anti-CBDC Surveillance State Act, which passed the House in 2025 but did not advance in the Senate. Republican lawmakers have argued that a government-backed digital dollar could raise privacy and financial control concerns. Crypto industry groups have also opposed CBDCs while generally supporting private stablecoin development.
The Trump administration has taken a similar position on central bank digital currencies. In January 2025, President Donald Trump signed an executive order barring federal agencies from work related to CBDCs. The order described such systems as a risk to financial stability, individual privacy, and US sovereignty.
For stablecoin issuers and private digital payment firms, the bill would keep a Federal Reserve digital dollar off the market for several more years. A CBDC could have competed with dollar-backed stablecoins in payments, settlements, and digital asset transactions. The bill does not ban private stablecoins, and its carveout separates them from the restricted Federal Reserve product.
Housing provisions remain central to the bill
The broader housing package includes restrictions on institutional investors buying existing single-family homes to rent out. Lawmakers removed an earlier provision that would have required investors to sell build-to-rent properties within seven years. The final approach keeps limits on institutional buying while avoiding a forced disposal requirement for certain rental housing assets.
The bill also seeks to streamline permitting, expand financing options, and update federal housing assistance programs. Those provisions are aimed at housing supply, affordability, and access for families, seniors, and veterans. Banking deregulation measures are also included as part of the negotiated package.
The agreement allows Congress to move one large housing measure while continuing work on separate crypto legislation, including the CLARITY Act. Senate leaders expect the bill to pass this week, while the House is expected to send it to the president next week after final action. The central angle remains clear: the US House and Senate have reached agreement on a sweeping housing bill that includes a CBDC ban until 2030.
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