The Senate’s bipartisan 21st Century ROAD to Housing Act has been released and is expected to receive a Senate vote this week. The bill includes an addition to implement Trump’s goal of preventing institutional investors from buying single family homes. But one addition is more curious: a ban on a retail CBDC.
Last year, when the House passed the GENIUS Act for stablecoins, it simultaneously passed the Anti-CBDC Surveillance Act, but no ban was enacted by the Senate.
It might be surprising for a bipartisan housing bill to include such a clause, but it has a critical caveat. The ban is set to expire at the end of 2030, which might satisfy Democrats. Trump should be in office until January 2029, so even if the Democrats won the next election and wanted a CBDC, launching one within two years is unlikely. Notably, the ban is on issuance, not preparation. But it does raise another question: why is the ban necessary during Trump’s term?
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