President Donald Trump has cancelled the signing of a bipartisan housing affordability bill that includes a four-year ban on a Federal Reserve central bank digital currency (CBDC).
The ceremony was planned for Wednesday but has been halted until Congress passes the SAVE America Act, which mandates proof of citizenship to vote. The housing legislation's CBDC prohibition, extending to the end of 2030, was a major win for digital-dollar critics in the crypto industry. Trump insists the voter ID bill-stalled in the Senate-is a national emergency. "It has been stuck in the Senate," House Speaker Mike Johnson said, suggesting the measure be attached to another budget bill.
This delay not only endangers the housing package but also threatens the Digital Asset Market Clarity Act, the crypto sector's top legislative priority. With only about five weeks left in the congressional session before the summer break, any major holdup could doom the bill. Trump had previously issued an executive order banning CBDC work, citing threats to financial stability and privacy.
The president has a constitutionally mandated 10-day period to sign or veto bills sent by Congress.