As Congress prepared for a ceremonial signing of a bipartisan housing bill that includes a ban on central bank digital currencies (CBDCs), President Donald Trump abruptly canceled the event.
Trump has said he will not sign the legislation—which forms part of the housing affordability package and includes a four-year CBDC prohibition—unless lawmakers first pass unrelated voting legislation requiring proof of citizenship.
The Wednesday signing ceremony was called off after Trump posted on Truth Social that it would remain suspended until Congress approves the “SAVE AMERICA ACT,” which he described as a national emergency priority. The move risks wider delays across the legislative calendar, including the crypto industry’s priority market structure bill.
The bill Trump is demanding includes contentious election provisions such as voter ID and citizenship verification requirements. However, Republican leadership has struggled to secure sufficient Senate backing. House Speaker Mike Johnson said the proposal has stalled and may need to be attached to another budget vehicle to advance.
Blocking or delaying the housing bill could have broader political implications, as it previously enjoyed bipartisan support and contained a provision banning a CBDC through 2030—an outcome strongly backed by anti-CBDC voices in the crypto industry. Although a U.S. digital dollar is not imminent, critics argue it could pose risks to privacy and financial autonomy.
Trump previously signed an executive order opposing any U.S. CBDC effort, warning it could undermine financial stability, individual privacy, and national sovereignty.
Potential impact on crypto legislation
The bigger concern for the crypto sector is that the dispute could slow progress on the Digital Asset Market Clarity Act, a key market structure bill targeted for this congressional session. With roughly five weeks left before the summer recess, time is running out to resolve outstanding issues and bring the legislation to a Senate vote.
Any shift in congressional focus toward Trump’s election-related agenda could further squeeze bandwidth for crypto policy. GOP lawmakers were already attempting to advance the voter-ID bill this week.
Policy analysts at TD Cowen said there is effectively “no path” for the SAVE Act to become law under current conditions, citing filibuster constraints and uncertain Senate support even if procedural hurdles were cleared.
Before canceling the signing, Trump had called the housing bill “minor” compared with priorities like lowering interest rates and criticized Democratic Senator Elizabeth Warren’s involvement.
Under the Constitution, the president has 10 days to sign or veto a bill after it reaches his desk. Even if vetoed, the measure could be overridden given sufficient congressional support, though that would require alignment among Republican lawmakers with Trump’s position.
