US Senate and House leaders have reached an agreement to advance a sweeping housing bill that includes a ban on central bank digital currencies (CBDCs). Housing reform, which has remained before Congress for years, has now entered its final stage with a provision that directly concerns the cryptocurrency industry.
Senator Tim Scott, Senator Elizabeth Warren, Representative French Hill and Representative Maxine Waters released an updated version of the “21st Century ROAD to Housing Act” on Tuesday. The text, jointly endorsed by all four lawmakers, indicates that an agreement has been reached across both chambers and between Republicans and Democrats. Such a four-way compromise is rare, particularly in a politically sensitive area such as housing policy.
The legislative package aims to increase housing supply in the US and prevent institutional landlords from dominating the market. In recent years, large investment funds and corporate buyers have been accused of purchasing single-family homes in bulk and converting them into rental properties, contributing to rapidly rising home prices and rents. The bill seeks to curb this trend and make it easier to introduce measures that expand housing supply.
To address objections in the House, lawmakers added a three-year sunset provision to a disaster relief program. This was one of the concessions that emerged during the final stages of negotiations. Reaching this point was far from easy, as reconciling a broad housing policy package between the two chambers typically requires months of negotiations and mutual concessions.
Scott said the legislation was the result of years of work to lower costs, expand housing supply, reduce bureaucracy, protect taxpayers and help more Americans become homeowners. He stressed that it was now time to finalize the bill and deliver meaningful relief to the American public. Warren, Hill and Waters similarly highlighted the bipartisan nature of the legislation and its practical benefits for Americans.
How Did the CBDC Ban Enter the Bill?
The bill would prohibit the Federal Reserve from issuing a CBDC, or any digital asset “substantially similar” to one, until the end of 2030. Although the provision may initially appear unrelated to housing policy, it reflects a familiar tactic in Washington: attaching unrelated policies to must-pass legislation that is considered highly likely to become law.
According to earlier reporting by journalist Eleanor Terrett, pressure to add the provision came from House Republicans. Opposition to CBDCs has gained increasing support within the Republican Party in recent years. The movement is largely driven by concerns that a central bank-issued digital currency could threaten individual privacy and give the government excessive control over financial transactions.
The Trump administration’s opposition to CBDCs is also well established. Treasury Secretary Scott Bessent reiterated last month that CBDCs were “not on the table,” adding that the administration’s main focus was finalizing the digital asset-focused Clarity Act. His comments align with the administration’s broader crypto policy: opposition to CBDCs alongside greater openness toward privately issued digital assets and stablecoin regulation.
Next Steps
According to Politico, citing Senate Majority Leader John Thune, the updated bill will now proceed to an initial procedural vote in the Senate. The outcome will provide an important indication of how quickly the rest of the legislative process could move.
If the bill passes the Senate, it will then move to the House. A vote is expected shortly after lawmakers return from recess around June 23. If the process is completed, the legislation will be sent to the president’s desk.
Once signed into law, the bill would establish a multi-year framework covering both US housing policy and the country’s official position on central bank digital currencies.
