Key facts
- US House and Senate leaders have agreed on the 21st Century ROAD to Housing Act.
- The bill prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) until December 31, 2030.
- The legislation includes measures to boost housing supply and lower costs.
- It also limits institutional homebuyers from purchasing single-family homes for rental purposes.
- The bill contains a carveout for open, permissionless private dollar assets like stablecoins.
Leaders of the Senate Banking and House Financial Services committees have released updated text for the 21st Century ROAD to Housing Act, a sweeping housing bill that includes a ban on the Federal Reserve issuing a central bank digital currency (CBDC) until December 31, 2030. The bipartisan compromise aims to boost housing supply, lower costs, and curb institutional investors' ability to purchase single-family homes for rental purposes. The bill also includes a three-year sunset for a disaster-recovery block grant program and adopts other House priorities. The anti-CBDC provision, which mirrors language from a previously stalled Republican bill, was added at the urging of House Republicans and has the backing of the Trump White House. Critics of CBDCs, including some House conservatives, warn they could enable financial surveillance. The legislation now returns to the Senate floor for a vote. Previously, President Donald Trump signed an executive order in January 2025 prohibiting federal agencies from engaging in work related to CBDCs.