US Senators Introduce the 21st Century Mortgage Act, Proposing the Inclusion of Cryptocurrency as Mortgage Assets

According to ChainCatcher, Senator Cynthia Lummis, chair of the Senate Banking Subcommittee on Digital Assets, has introduced the "21st Century Mortgage Act," which requires Fannie Mae and Freddie Mac to consider digital assets recorded on distributed ledgers when assessing eligibility for single-family home mortgages, and prohibits them from mandating the conversion of these digital assets into US dollars. The bill aims to improve home loan access for younger generations by recognizing digital assets as a measure of wealth.

Previously, FHFA Director Pulte stated on social media: "After careful study and in line with President Trump's vision of making the United States the crypto capital, today I have directed Fannie Mae and Freddie Mac to prepare their operations to recognize cryptocurrency as qualifying assets for mortgage applications."