US Senate Passes Sweeping Housing Bill Featuring Five-Year CBDC Ban

The U.S. Senate overwhelmingly passed the 21st Century ROAD to Housing Act on Monday in a bipartisan 85-5 vote, advancing a massive legislative package designed to tackle housing affordability while simultaneously freezing the development of a federal digital currency. The comprehensive bill combines a major housing supply initiative with a strict ban on central bank digital currencies (CBDCs), marking a significant milestone for a piece of legislation that reflects a rare consensus between key senators and House representatives, The Block said in a news report.

At its core, the legislation aims to alleviate the nationwide housing crunch by boosting the overall supply of homes and establishing guardrails to prevent corporate landlords from dominating local real estate markets. House Committee on Financial Services Chairman French Hill praised the vote on Monday, stating that housing affordability fundamentally relies on increasing supply and that the bill represents meaningful progress toward lowering everyday costs for American families.

Despite its primary focus on real estate, the bill contains a highly debated provision that explicitly prohibits the Federal Reserve from issuing or creating a CBDC, or any substantially similar digital asset, until December 31, 2030. While blending digital currency restrictions with housing reform is an unusual policy pairing, Capitol Hill insiders note it highlights a classic legislative strategy where lawmakers hitch controversial or unrelated priorities to high-priority, “must-pass” packages. House Republicans heavily pushed for the anti-CBDC language, leveraging the momentum of the housing package to secure the five-year ban.

The legislation aligns closely with the current Trump administration’s aggressive opposition to government-backed digital tokens. Just last month, U.S. Treasury Secretary Scott Bessent reaffirmed the administration’s position by stating that a CBDC is firmly off the table, noting that executive officials prefer to focus their legislative energy on passing the crypto-centric Clarity Act instead.

With Senate approval secured, the bill now moves to the House of Representatives for a final floor vote before it can reach the president’s desk. House GOP leaders are reportedly utilizing expedited voting procedures to fast-track the legislation, scheduling the vote to take place immediately as lawmakers return from their recess on June 23.