Donald Trump · Federal Reserve (FED) · US Congress · The Block
Housing bill that includes a CBDC ban passed into law without Trump’s signature
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A major housing bill called the 21st Century ROAD to Housing Act, which includes a provision that bans the Federal Reserve from issuing a central bank digital currency, has become law.
Key facts
- The Federal Reserve has been exploring the possibility of issuing a CBDC and released a report in 2022 examining the pros and cons of a CBDC, but central bank officials have thrown cold water
- A major housing bill called the 21st Century ROAD to Housing Act, which includes a provision that bans the Federal Reserve from issuing a central bank digital currency, has become law
- The Federal Reserve has said it would not issue a CBDC without the explicit go-ahead from Congress, but blocking a CBDC has become a priority for some Republicans
- On Friday, that bill became law even after President Donald Trump said he would not sign it unless Congress first passes legislation requiring proof of citizenship to vote in federal elections
Summary
On Friday, that bill became law even after President Donald Trump said he would not sign it unless Congress first passes legislation requiring proof of citizenship to vote in federal elections. On Friday morning, Trump said he would not sign it. "I will not sign the Housing Bill, which has been fully approved by Congress and sent to the White House, in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT," he said in a Truth Social post. A section in the Constitution says that once a bill is presented to the president, they can sign it or veto it, but if the president does nothing for 10 days, the bill automatically becomes law without a signature.