Key Points
- The 21st Century ROAD to Housing Act entered into force July 11 despite lacking presidential approval
- Legislation prohibits Federal Reserve CBDC issuance through December 31, 2030
- President Trump withheld signature while demanding Senate action on the SAVE America Act
- Overwhelming bipartisan margins delivered passage: 85-5 in Senate, 358-32 in House
- Uncertainty now surrounds crypto market structure legislation following similar procedural path
America has enacted legislation barring central bank digital currencies through an unusual constitutional mechanism that bypassed presidential approval.
The 21st Century ROAD to Housing Act achieved legal status on Saturday, July 11, following President Donald Trump’s decision to allow the constitutional 10-day window to expire without either signing or rejecting the measure.
Trump telegraphed his strategy Friday morning through a Truth Social statement, declaring he would withhold approval for the housing legislation as leverage against the Senate’s inaction on the SAVE America Act, his preferred voting reform requiring citizenship verification for voter registration.
“I will not sign the Housing Bill,” Trump declared, characterizing supporting Republicans as “dumb.”
Constitutional procedure grants presidents three options when presented with legislation: approval through signature, formal veto, or inaction. When 10 days elapse—Sundays excluded—without presidential response, bills automatically acquire legal force.
Understanding the CBDC Prohibition Language
Embedded within the housing package sits language preventing the Federal Reserve from launching or developing a CBDC, or any functionally equivalent digital instrument, before December 31, 2030.
The Federal Reserve had previously stated it wouldn’t pursue CBDC development without congressional authorization. However, this legislation establishes a statutory prohibition extending through the next four years.
The housing package enjoyed substantial cross-party backing, securing Senate approval 85-5 and House passage 358-32 during the previous month. Political observers characterized the CBDC restriction as strategic inclusion intended to attract conservative support.
Senator Elizabeth Warren, among the bill’s co-sponsors, addressed Trump’s signature refusal. “He’s refusing to sign the biggest housing bill in 30 years,” she stated. “The good news: it’s going to become law anyway.”
Implications for Digital Asset Policy
Trump’s passive approach has generated uncertainty regarding additional cryptocurrency legislation advancing through congressional chambers.
The Digital Asset Market Clarity Act, commonly referenced as the CLARITY Act, has secured House approval and advanced through two Senate committee reviews. Republican congressional leadership anticipated full Senate consideration during July.
Yet Trump’s demonstrated reluctance to support measures disconnected from his immediate agenda has sparked apprehension that the CLARITY Act might encounter comparable obstacles.
Trump’s financial connections to cryptocurrency ventures introduce additional complications. His 2025 disclosure statements indicated cryptocurrency-related income exceeding $1.4 billion, spanning memecoin projects and the family’s World Liberty Financial operation.
The CBDC prohibition has achieved statutory status. Whether comprehensive crypto market framework legislation can navigate similar procedural challenges without presidential confrontation remains uncertain.
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