President Donald Trump stated on Thursday that he will not sign a bipartisan housing bill containing a multi-year ban on the issuance of a central bank digital currency, or CBDC. However, there is a constitutional twist: unless Trump actively vetoes the legislation before midnight, the bill will automatically become law.
A Protest That Cancels Nothing
“I will not be signing that housing bill,” Trump wrote on Truth Social, calling his move a “protest” over the Senate’s failure to pass the SAVE America Act - a controversial voting rights bill he has championed for months.
The problem is, Trump’s refusal to sign does not automatically kill the bill. Under the U.S. Constitution, a bill passed by Congress automatically becomes law after 10 days without the president’s signature, as long as Congress remains in session. That deadline falls at the end of Friday. If Trump were to issue a formal veto before midnight, the bill would return to Congress - where lawmakers would need to pass it again with a two-thirds majority in both chambers. However, the bill previously cleared the Senate by 85-5 and the House by 358-32, margins far exceeding the veto-override threshold.
Why the Crypto Community Is Holding Its Breath
The legislation, titled the 21st Century ROAD to Housing Act, primarily aims to boost housing construction and slash regulations, including restricting institutional investors from buying up single-family homes. But earlier this year, lawmakers slipped in a provision banning the Federal Reserve from issuing a central bank digital currency until the end of 2030. That provision has been warmly welcomed by crypto and privacy advocates, who have long feared a government-issued digital dollar could open the door to state surveillance over citizens’ financial transactions.
The Federal Reserve itself continues to research CBDC technology, but has repeatedly affirmed it will not issue one without congressional approval.
What to Watch Before Dawn
This drama boils down to one simple yet lingering question: will Trump stay silent and let the CBDC ban cruise into law, or pull it back with a veto to pressure Congress on other issues? Whatever his choice, for the crypto camp, the hours leading up to midnight could determine the fate of one of their most anticipated regulatory victories.
Reported via Decrypt, with additional monitoring from @WatcherGuru on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
