The US Senate passed the 21st Century ROAD to Housing Act on Monday in an 85-5 vote, sending a sweeping housing reform bill to the House floor that also bars the Federal Reserve from issuing a central bank digital currency through 2030.
A final House vote would move the legislation to President Trump’s desk for signature.
What the CBDC ban covers
Title XI, Section 1101 of H.R. 6644 prohibits the Board of Governors of the Federal Reserve System or any Federal Reserve Bank from issuing or creating a CBDC.
The ban extends to any digital asset substantially similar to one, whether issued directly or through an intermediary.
The bill defines a CBDC as a dollar-denominated asset that is a direct Federal Reserve liability and widely available to the public.
The restriction expires December 31, 2030.
Critically, the provision carves out open, permissionless, and private dollar assets, effectively shielding stablecoins from the ban. The bill text states:
“Exception.—Subsection (b) shall not prohibit any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.”
The vote also codifies a stance the White House set earlier, as President Trump’s January 2025 executive order on digital financial technology already barred any effort to establish or circulate a CBDC across US jurisdiction.
Why a housing bill carries crypto policy
House Republicans pushed to attach the CBDC restriction to the widely backed housing bill, which also blocks large institutional investors from buying single-family homes.
House Financial Services Chairman French Hill said:
“Housing affordability starts with supply, and this bill makes meaningful progress toward building more homes and lowering costs for American families.”
Next steps
Republican leaders plan to fast-track a House vote when the chamber reconvenes from recess on June 23, according to Politico.
If approved, the bill would formalize the most significant legislative barrier to a US government-backed digital dollar to date, reinforcing the administration’s preference for private-sector digital dollar devaluation hedges over state-issued alternatives.
