A rather unusual bill has been passed in the U.S. Congress: the "21st Century Road to Housing Act," aimed at reforming the housing supply. While ostensibly a housing policy, it includes a clause prohibiting the issuance of central bank digital currencies (CBDCs). Furthermore, the clause prohibits the Federal Reserve from issuing CBDCs until the end of 2030.
At first glance, housing policy and monetary policy seem unrelated. However, this clause holds significant meaning in understanding the current U.S. financial hegemony, cryptocurrency policy, and the ideology of the Trump administration. Why did CBDC sneak into the housing bill? And why is the Trump administration opposed to CBDCs? Let's examine the background.
The housing reform bill aims to improve the housing shortage in the United States. Its pillars include deregulation of housing construction and promotion of supply, and are not directly related to the financial system. However, the reason a clause prohibiting CBDC issuance until 2030 was added to this bill is believed to be because a CBDC bill alone would face strong political opposition and would be difficult to pass.
In the U.S. Congress, a tactic of attaching politically opposed policies to other important bills as "Rider Clauses" is frequently employed. Housing policy is a topic of high interest to voters and seems likely to garner bipartisan support. Therefore, it is believed that the stalled anti-CBDC policy was incorporated into the housing bill to increase its chances of passage. In other words, behind the national issue of housing supply, Congress slipped the "anti-CBDC" Trojan horse into the heart of monetary policy.
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