CBDC Ban Enacted Without Trump
A US retail CBDC ban is working its way through Congress, stalling at the White House, and ultimately taking legal effect through 2030 without presidential signature.
A provision banning a US government digital dollar until 2031 was embedded in a housing bill that automatically took effect early Saturday local time, as President Trump declined to sign it in protest over the SAVE America Act. Trump's refusal to sign was deemed legally invalid under the bill's automatic enactment mechanism. The law constrains the federal government from developing or deploying a retail central bank digital currency for the duration of the ban.
The CBDC Ban: banned something nobody was building
The Federal Reserve had already said it won't issue a digital dollar without Congress say so. So the "ban" is four years of protection against a threat that wasn't materialising anyway.
This is a symbolic battle. A symbol of intent (or lack thereof). Trump not eagerly signing it off and the ban being shoe-horned into an unrelated Bill is a symbol... of sorts too.
A win, I guess. Time will tell...
4 sources
- U.S. government digital dollar set to be banned tonight under housing law's CBDC limit · coindesk.com · T1
- Trump Won't Sign Housing Bill With CBDC Ban—Will It Become Law Tonight Anyway? · decrypt.co · T1
- Trump Refuses to Sign Housing Bill Banning CBDC in Protest Over SAVE America Act · coingape.com · T2
- Housing bill containing CBDC ban to automatically take effect early Saturday local time, Trump's refusal to sign invalid · panewslab.com · T2