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US Senators Introduce New Bill to Include Cryptocurrency as Collateral Loan Assets
Summary: According to reports, Cynthia Lummis, the proponent of the 'Bitcoin Strategic Reserve Act' and chair of the Senate Banking Committee on Digital Assets, introduced the '21st Century Mortgage Act' today. The bill requires Fannie Mae and Freddie Mac to consider digital assets recorded on distributed ledgers when evaluating eligibility for single-family residential mortgage loans, and ...
According to reports, Cynthia Lummis, the proponent of the 'Bitcoin Strategic Reserve Act' and chair of the Senate Banking Committee on Digital Assets, introduced the '21st Century Mortgage Act' today. The bill requires Fannie Mae and Freddie Mac to consider digital assets recorded on distributed ledgers when evaluating eligibility for single-family residential mortgage loans, and prohibits the mandatory conversion of these digital assets into US dollars. The aim of the bill is to increase opportunities for the younger generation to obtain housing loans by recognizing digital assets as a wealth assessment indicator.
On June 26th, the Director of the Federal Housing Finance Agency (FHFA), Pulte, posted on social media stating: After research and in line with President Trump's vision to make the US the capital of cryptocurrency, today I have instructed Fannie Mae and Freddie Mac to prepare for business and include cryptocurrency as recognized assets for mortgage loan applications.
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Link: US Senators Introduce New Bill to Include Cryptocurrency as Collateral Loan Assets [Copy]
