Overview
- Congress cleared the 21st Century ROAD to Housing Act with strong bipartisan votes, with the Senate approving it 85-5 on June 22 and the House then sending the bill to President Trump.
- Title XI, Section 1101 of the bill would forbid the Federal Reserve from issuing or creating a retail central bank digital currency or any digital asset substantially similar to one through Dec. 31, 2030.
- The measure explicitly exempts dollar-denominated digital assets that are open, permissionless and private, protecting private stablecoins such as USDC and USDT from the ban.
- The Fed had not moved beyond research into a retail CBDC, so the provision mainly converts the administration’s executive-order stance into law to make that policy harder to reverse.
- President Trump canceled the planned signing and tied his approval to congressional progress on the SAVE America Act, leaving the moratorium unresolved until he signs, allows it to become law without a signature, or Congress takes further steps.