US President Donald Trump has delayed signing a bipartisan housing bill banning central bank digital currencies until 2030. The president’s move has already drawn criticism from Democrats, including anti-crypto Senator Elizabeth Warren.
President Trump postpones signing the housing bill
In a Truth is a social functionThe President announced that he was rescinding the signing of the Pathway to 21st Century Housing Act, which Congress passed earlier this week. He said the signing was delayed until Congress approved the “much-needed” Rescue America Act, which he considers a national emergency.
It is worth noting that the housing bill includes a provision prohibiting the Federal Reserve from creating and issuing central bank digital currencies (CBDCs) until 2031. The bill in particular was approved with overwhelming bipartisan support in both chambers.
The Senate passed the Pathway to 21st Century Housing Act by a vote of 85-5, while Representatives approved the legislation by a vote of 358-32. Meanwhile, this development comes at a time when the Senate is also trying to move forward The law of clarity Before the July 4th holiday.
With Trump moving to delay signing the housing bill, the bill could become law ten days later if President Trump decides to take no action. If it vetoes, Congress can get the votes to override the veto. However, House Speaker Mike Johnson must present the bill to the President in order for this legislative measure to be focused.
According to Punchbowl News, House Speaker Johnson said President Trump wants to see progress on the reconciliation bill, which will include the Save America Act, before signing the housing bill. However, Senate Republican leaders said they do not have the 50 votes to pass the Save America Act.
Democrats criticize Trump’s move
Democrats criticized President Trump’s decision to postpone signing the housing bill. Anti-cryptocurrency advocate Elizabeth Warren said the president’s move doesn’t make sense and that he doesn’t care about lowering housing costs for Americans.
“But at the eleventh hour, Donald Trump refuses to sign it into law. His policies have driven up your costs — and he doesn’t care,” she added. Sen. Andy Kim said the president was holding the bill hostage because he didn’t care about Americans.
Notably, the president is also the focus of the CLARITY Act, with Democrats pushing for an ethics provision in the cryptocurrency bill due to his involvement with cryptocurrencies. According to CoinGape, White House cryptocurrency advisor Patrick Witt is currently involved in the matter NEGOTIATIONS ON THE ETHICAL PROVISION OF THE CLARITY ACT.
Meanwhile, a dispute between President Trump and Congress over a housing bill threatens the passage of the Clarity Act. The Senate already faces a tight timeline, although Senator Cynthia Lummis has indicated that she may release the final text of the cryptocurrency bill around the July 4 recess.
