Trump refuses to sign housing bill containing CBDC ban! Demands SAVE Act first: This is a national emergency.

Trump Suddenly Cancels Housing Bill Signing Ceremony, Demands Priority for Voter Registration Bill, Forcing Four-Year CBDC Ban Delay Within It, Which May Crowd Out Consideration of Other Crypto Bills.

On June 24 U.S. time, President Trump abruptly canceled the scheduled signing ceremony for the Housing Bill, announcing on Truth Social: "(Signing) is hereby canceled until we pass the urgently needed SAVE America Act—which I consider a national emergency." Trump also stated in the post that the Housing Bill is "secondary compared to lowering interest rates." Chain News reported yesterday that the Senate passed the bill 85-5, followed by the House with a high vote margin, and it was originally scheduled to enter the final signing stage today, with the four-year CBDC ban set to take effect simultaneously. However, Trump's move has left the entire bill, including the CBDC provisions, in limbo.

SAVE Act as Leverage: Trump Ties "Election Integrity" to Housing Bill

The SAVE Act (Save American Voter Eligibility Act) requires proof of citizenship for voter registration, a long-time Republican goal that had not reached the 60-vote threshold in the Senate. TD Cowen analyst Jaret Seiberg directly stated: "The SAVE Act has no path to enactment." By linking two unrelated pieces of legislation, Trump is effectively using the already-passed Housing Bill as leverage to pressure Congress. On CBDC policy itself, the Trump administration has consistently opposed a Federal Reserve central bank digital currency. The four-year ban's content is not what he opposes; the focus is entirely on the sequencing battle: "Don't sign the Housing Bill first; the SAVE Act must pass first."

The 10-Day Mechanism is a Constitutional Safety Net: CBDC Ban Could Still Become Law Automatically

Article 1, Section 7 of the U.S. Constitution stipulates that if the president neither signs nor vetoes a bill within 10 days of receiving it, and Congress is still in session, the bill automatically becomes law. The Housing Bill has already passed the Senate 85-5 and the House by a vote far exceeding the two-thirds veto override threshold, so even if Trump vetoes it, Congress has the votes to override. In other words, the four-year CBDC ban is almost certain to take effect within a few weeks, with the only difference being whether there is a "signing ceremony" as a political gesture.

What the Industry Really Cares About: CLARITY Act's Legislative Time Is Being Crowded Out

The most damaging aspect of this situation is not the 1-2 week delay of the CBDC ban, but the potential deadlock between the SAVE Act and the Housing Bill, which could consume the limited remaining legislative time in the current Senate session. The Senate has only about 5 weeks left before the August recess. If significant time is spent on the SAVE Act battle, the scheduling of the Digital Asset Market CLARITY Act (crypto market structure bill), along with other priority crypto-related bills, will be squeezed. The CEO of BitGo recently stated that if the bill cannot pass before the recess, it could be delayed until 2027. For observers closely following the pace of U.S. crypto policy advancement, the real cost of this political posture battle is the hidden opportunity cost of having the "crypto market structure bill stuck for half a year or even longer."

• This article is republished with authorization from: Chain News
• Original title: "Trump Refuses to Sign Housing Bill Containing CBDC Ban, Demands SAVE Act First"
• Original author: Elponcrab