U.S. Senators Introduce New Bill to Include Digital Assets in Mortgage Assessment Criteria

According to a report by Jinse Finance, on July 29, U.S. Republican Senator Cynthia Lummis from Wyoming introduced the 21st Century Mortgage Act. The bill requires Fannie Mae and Freddie Mac to consider digital assets recorded on distributed ledgers when assessing eligibility for single-family residential mortgages, and prohibits mandating the conversion of these digital assets into U.S. dollars. Data shows that in the first quarter of 2025, the homeownership rate among Americans under the age of 35 dropped to 36.6%, the lowest since records began in 1982. Meanwhile, the Cryptocurrency Ownership Status Report indicates that 21% of American adults currently hold cryptocurrencies, with 67% of these holders being under the age of 45. The bill aims to increase home loan opportunities for the younger generation by recognizing digital assets as a metric for wealth assessment. This move serves as a legal confirmation of the previous directive from the Federal Housing Finance Agency regarding the consideration of cryptocurrencies as assets in single-family residential loans delivered by Fannie Mae and Freddie Mac.