U.S. Congress advances housing bill with CBDC ban through 2030

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Congress advances housing bill CBDC ban

Highlights

The updated 21st Century Road to Housing Act, which includes a CBDC ban until December 31, 2030, is set for a House vote after June 23.
The bill prohibits the Federal Reserve from issuing or creating a central bank digital currency, with exceptions for certain stablecoins, and aligns with Trump's January 2025 executive order.
If enacted, the bill represents a major Republican policy win on CBDCs and clears legislative space for consideration of the CLARITY Act before the November midterm elections.

Final legislative push and bill terms

As reported by Politico, House Republican leaders plan to bring the revised housing bill to a vote after the chamber returns from recess on June 23, according to two people familiar with the plan.

The U.S. House and Senate have reached a deal on an updated version of the 21st Century Road to Housing Act, released Tuesday by a bipartisan group of congressional leaders. The measure aims to address housing affordability and bars institutional investors from buying existing single-family homes to rent out.

The legislation has contained a CBDC ban since the Senate passed it in March. The House passed its own version in May with strong support, but differences between the two chambers required further amendments that are now set to go back to the House for a final vote.

The bill says the Federal Reserve may not, directly or indirectly, issue or create a central bank digital currency or any digital asset substantially similar to one. It also states that the restriction expires on Dec. 31, 2030, and includes an exemption for stablecoins described as dollar-denominated currency that is open, permissionless, and private.

Crypto policy implications for Washington

The provision restores much of the language from Representative Tom Emmer's Anti-CBDC Surveillance State Act, introduced in June 2025 and passed by the House the following month, but never taken up in the Senate. If enacted, the housing bill would deliver a policy victory to Republicans who have tried for years to pass a standalone CBDC ban.

Crypto advocates have opposed CBDCs on the grounds that they could turn digital asset technology into a centrally controlled government instrument. The current language also aligns with President Donald Trump's January 2025 executive order banning federal agencies from work related to CBDCs, which the administration says threaten financial stability, individual privacy and U.S. sovereignty.

The agreement may also allow Congress to shift attention to other pending measures before the August recess and the November midterm elections, including the crypto market structure CLARITY Act that many lawmakers are pressing to advance.

Our earlier article covered Congress’s housing affordability proposal that would curb large investors’ activity in the single-family home market by setting a purchase cap of 350 homes. We noted that negotiators dropped an earlier idea to force investor-built homes to be sold within seven years, focusing instead on the ownership limit as a way to boost supply and ease affordability pressures.

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