Crypto
Home›Crypto›Regulation›US CBDC ban set to start as housing bill becomes law w…
US CBDC ban set to start as housing bill becomes law without Trump signature
The ban would bar the Federal Reserve from issuing or creating a CBDC, or a similar digital asset, through Dec. 31, 2030, after Trump declined to sign the measure.
A bipartisan housing bill that bars the Federal Reserve from issuing or creating a US central bank digital currency is set to take effect as scheduled, even though President Donald Trump said he would not sign it, Cointelegraph reports. The 21st Century ROAD to Housing Act includes a prohibition on a CBDC, and on any digital asset substantially similar, until Dec. 31, 2030.
Cointelegraph says Trump left the bill unsigned, and under the US Constitution it is set to become law automatically without action. The outlet reports that the bill will have been on Trump’s desk for 10 days, excluding Sundays, just before it becomes law on Saturday.
The bill was passed by the House of Representatives and the Senate in June with support from Democrats and Republicans, Cointelegraph adds. It also includes a requirement for people to provide proof of US citizenship in person to register, a provision the outlet says has drawn criticism and allegations of disenfranchisement.
Cointelegraph reports that Trump did not address the CBDC language in his post, and instead urged the Senate to prioritize the SAVE America Act, a separate voting measure that has also faced criticism. Senator Elizabeth Warren, a co-sponsor of the housing bill, said the refusal to sign does not prevent it from becoming law anyway.