Congress passes housing bill with CBDC ban through 2030
In brief
- Congress finalized bipartisan housing bill with CBDC ban through December 31, 2030.
- Ban language mirrors Republican Tom Emmer's Anti-CBDC Surveillance State Act, stalled in Senate.
- Bill carves out permissionless, dollar-denominated crypto stablecoins meeting specific criteria.
- House Republicans plan vote after returning from recess June 23.
CBDC Ban Embedded in Housing Legislation
A bipartisan group of House and Senate leaders released an updated version of the 21st Century Road to Housing Act on Tuesday, which aims to address housing affordability and bans institutional investors from buying existing single-family homes to rent out. The bill's CBDC provisions carry broader implications for how the US approaches digital currency policy.
The housing bill includes language stating the Federal Reserve may not, directly or indirectly, issue or create a central bank digital currency or any digital asset substantially similar to a central bank digital currency. The clause expires on December 31, 2030, and creates a carveout for crypto stablecoins described as dollar-denominated currency that is open, permissionless, and private.
Political Win for Republicans
The bill would hand a win to Republicans who have tried to pass a CBDC ban for years, as earlier standalone bills had stalled in Congress. The clause revives much of the language from Republican Representative Tom Emmer's Anti-CBDC Surveillance State Act, which was introduced in June 2025, passed by the House in July 2025, but was never picked up in the Senate.
The Senate passed the bill with a CBDC ban in March, and the House passed its version with strong support in May. House Republican leaders plan to put the bill up for a vote after the House returns from recess on June 23.
Alignment with Trump Administration
The legislative push aligns with executive action already in place. US President Donald Trump signed an executive order in January 2025 banning federal agencies from all work related to CBDCs, saying they threatened the stability of the financial system, individual privacy, and the sovereignty of the United States.
Crypto advocates have long criticized CBDCs, viewing them as an attempt by governments to repurpose crypto technology to a centrally-controlled asset. The temporary nature of the ban—set to expire in 2030—leaves room for future Congresses to revisit the question, though the current legislative momentum suggests strong bipartisan opposition to Federal Reserve digital currency issuance remains intact.
