Trump Withholds Signature on CBDC Ban, Ties It to Voter ID

President Donald Trump is withholding his signature on a housing bill that would bar a Federal Reserve retail central bank digital currency through Dec. 31, 2030 and is demanding a separate voter-ID law requiring documentary proof of citizenship. He canceled a planned signing ceremony and declined to sign the package until lawmakers send the voter-eligibility measure.

The 21st Century ROAD to Housing Act passed the Senate on June 22 by an 85-5 vote and the House by 358-32, margins that exceed the two-thirds threshold needed to override a presidential veto.

The bill prevents the Board of Governors of the Federal Reserve System and any Federal Reserve bank from issuing, creating or circulating a central bank digital currency directly or through intermediaries through Dec. 31, 2030. The text explicitly exempts private dollar-denominated stablecoins described as “open, permissionless, and private,” leaving tokens from firms such as Circle and Tether outside the ban.

Trump tied his decision to the Safeguarding American Voter Eligibility Act, which would require documentary proof of citizenship to register for federal elections. That bill failed in the Senate on June 4 by a 48-50 vote, with Senators Susan Collins, Lisa Murkowski, Mitch McConnell and Thom Tillis joining Democrats to block it. Senate leaders have signaled it is unlikely to return to the floor this session.

White House officials say the president supports the CBDC language in the housing bill but is withholding approval to press Republicans on the voter legislation. Trump told reporters the Republican Party remains “well-unified” while he waits for lawmakers to act.

In January 2025, Trump signed an executive order directing his administration not to work on a retail digital dollar, saying a government-run digital currency would threaten the stability of the financial system, individual privacy and U.S. sovereignty.

Because Congress approved the housing package by veto-proof margins, the CBDC ban is likely to become law without a presidential signature if the president does not sign within 10 days (excluding Sundays) and Congress remains in session. If that occurs, a U.S. retail CBDC would be barred until Dec. 31, 2030.

Lawmakers passed the GENIUS Act in July 2025 to regulate certain payment stablecoins, and six federal agencies are working to finalize stablecoin rules by a July 18, 2026 deadline.

More than 130 countries have explored central bank digital currencies, and several have piloted or launched retail CBDCs.

If the president does not sign the housing bill, the options remaining are for Congress to revisit the voter-eligibility measure or for the housing package, including the temporary CBDC ban, to become law without a signature.