Housing Proposal Included in Major U.S. Crypto Bill

• Eleanor Terrett flags a housing plan inside a major U.S. crypto bill in Congress.
• The “Build Now Act” aims to boost housing supply in major cities using federal incentives.
• The Clarity Act also moves forward, defining crypto rules and stablecoin policy.

Crypto journalist Eleanor Terrett has drawn attention to a surprising section in a major crypto bill currently moving through Congress.

In a post on X, Terrett said a housing proposal was included in the crypto legislation. She pointed to pages 300–309 of the bill, which contain a section called the “Build Now Act.”

The proposal focuses on increasing housing construction in major U.S. cities and urban counties through a federal incentive program.

According to the bill text shared by Terrett, the program would apply to cities and counties that already receive federal housing and community development funding under a 1974 law.

The proposal also introduces a measure of housing growth called the “current annual growth rate”. This would track how quickly new housing units are added over several years.

The goal is to identify which cities are increasing housing supply quickly enough to qualify for federal support or incentives.

Moreover, the bill suggests that some lower-cost housing markets may not qualify for the program. Areas could be excluded if local rent levels are too low relative to other participating regions and home prices are below the national median.

Meanwhile, the crypto community was surprised to see housing policy included in a bill expected to focus mainly on crypto regulation. Indeed, the housing section is not directly connected to crypto or blockchain policy. As a result, its inclusion quickly became a major topic of discussion online.

Notably, large congressional bills often combine multiple policy proposals into one package when lawmakers believe the legislation has a strong chance of passing.

In March, the U.S. Senate overwhelmingly passed the “ROAD to Housing Act” in an 89–10 vote. The bill included a provision banning the development of a U.S. central bank digital currency (CBDC) until 2031.

The 303-page housing bill mainly focuses on boosting housing supply and reducing regulatory barriers.

Notably, CBDCs, often called “digital dollars,” have faced criticism from conservatives who argue they could enable government financial surveillance. The CBDC restriction bars the Federal Reserve from creating or issuing a digital dollar directly or through intermediaries. However, it exempts private, permissionless dollar-backed digital currencies that preserve cash-like privacy protections.

Related: Fed Confirms CBDC Pause While Expanding Digital Asset Oversight

Meanwhile, the widely anticipated crypto bill, the Clarity Act, is progressing. The Senate Banking Committee is set to vote on the legislation this week.

Notably, the bill aims to create a regulatory framework for digital assets. The legislation would define whether cryptocurrencies are treated as securities, commodities, or another asset class.

A key issue in the bill involves stablecoins and whether crypto firms can offer rewards that compete with bank deposits. A compromise led by Senators Thom Tillis and Angela Alsobrooks would ban rewards for simply holding stablecoins while allowing incentives tied to activities such as payments.

Banking groups oppose the proposal, arguing that it could drain deposits from traditional banks. However, research by White House economists disagrees with this framing.

The bill still faces uncertainty, as it needs bipartisan support in the Senate before reaching President Donald Trump.

Related: Will the CLARITY Act Pass This Thursday? What We Know So Far