Sen. Cynthia Lummis (R-Wyo.) Proceeded a bill on Tuesday that tries to include cryptocurrencies in the mortgage process.
What happened: The proposed legislation, called the 21st-century mortgage law, requires this to consider digital assets sponsored by the government, such as such as such as Bitcoin BTC/USD And Ethereum ETH/USDFor single -family loans.
If adopted, the bill with federally supported mortgage giants will send Fannie Mae FNMA And Freddie Mac FMCC To include digital assets that are laid down on a “cryptographically insured distributed ledger” in their mortgage risk assessments for single -family loans.
The bill also prohibits the conversion of this digital assets in dollars, with respect for the nature of ‘digital wealth’.
“This legislation includes an innovative path to building wealth, taking into account the growing number of young Americans who have digital assets,” Lummis said.
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Why it matters: The proposed bill builds on the directive issued by the director of the Federal Housing Finance Agency William van de Tour Last month Fannie Mae and Freddie Mac instructed to consider Cryptocurrency as a mortgage active.
It comes at a time when the homeowner is a historically low level of 36.6% for Americans younger than 35 from the beginning of 2025. At the same time, 21% of American adults now have cryptocurrency, with 67% of crypto owners younger than 45 years, according to to the 2025 State of the Crypto Holders Report
The bill is part of a broader effort from Lummis to help position the US as the global hub of cryptocurrency. Earlier in the month, she published, together with colleague Republican senators, a discussion concept for market structure legislation aimed at eliminating the confusion of regulations and promoting industry growth.
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