As Congress moved toward a scheduled signing ceremony for a bipartisan housing bill that includes a ban on central bank digital currencies (CBDCs), President Donald Trump abruptly canceled the event.

Trump has said he will not sign the legislation—part of the housing affordability package that also includes a four-year CBDC prohibition—unless lawmakers first pass unrelated voting legislation requiring proof of citizenship.

The Wednesday ceremony was called off after Trump posted on Truth Social that it would remain suspended until Congress approves the “SAVE AMERICA ACT,” which he described as a national emergency priority. The move introduces the risk of wider delays across the legislative agenda, including the crypto industry’s long-sought market structure bill.

The legislation Trump is pushing contains contested election provisions such as voter ID and citizenship verification requirements. However, Republican leaders have struggled to secure sufficient support in the Senate, with House Speaker Mike Johnson noting the bill may need to be attached to other legislative packages to advance.

Any disruption to the housing bill could have broader political implications, as it previously had bipartisan backing and included a CBDC ban extending through 2030—an outcome strongly supported by anti-CBDC advocates in the crypto industry. While a U.S. digital dollar is not seen as imminent, critics argue it could raise concerns around privacy and financial control.

Trump has previously opposed a central bank digital currency, signing an executive order against its development on the grounds of protecting financial stability, privacy, and U.S. sovereignty.

Potential impact on crypto legislation

The bigger concern for the crypto sector is that the dispute could slow progress on the Digital Asset Market Clarity Act, a key market structure bill targeted for this congressional session. With only around five weeks left before the summer recess, the window for advancing the legislation is narrowing quickly.

If congressional attention shifts toward Trump’s election-focused agenda, crypto policy efforts could face additional delays. GOP lawmakers were already trying to advance the voter-ID bill this week.

Analysts at TD Cowen say there is effectively “no path” for the SAVE Act to become law under current conditions, pointing to filibuster constraints and uncertain Senate support even if procedural hurdles were removed.

Before canceling the signing, Trump had described the housing bill as secondary to priorities such as lowering interest rates and criticized Democratic Senator Elizabeth Warren’s involvement.

Under the Constitution, the president has 10 days to sign or veto legislation after it reaches his desk. Even if vetoed, Congress could override the decision with sufficient support, though that would require Republican alignment with the president’s position.