Wyoming Senator Cynthia Lummis has introduced a law that can codify an order from a US housing regulation agency for mortgage consumers to consider digital ownership of applications.
In a notice on Tuesday, Lummis Says His proposed bill, the 21st century of the mortgage act, will conduct the action of Congress following a June order from the US Federal Housing Finance Agency (FHFA). In that afternoon, US mortgage consumers Fannie Mae and Freddie Mac It will be needed to “consider cryptocurrency as a property for single-family loans.”
“This law embraces an innovative path to developing wealth to remember the increasing number of American children who possess digital properties,” Lummis said.
Many Democratic Senates already have Pushed back against the FHFA order.
“Until the historical volatility and liquidity persists even as the market lasts, a borrower who uses crypto is faced with an increase in risk that they may not be able to get out of the crypto position and return to cash at a price that will allow them to buffer against the risk of default mortgage,” said democrats in a July 24 Pulte.
Related: US Home Mortgage Regulator considers Bitcoin in the middle of the housing crisis
Lummis’s proposed law targets American children who are struggling to find affordable long-term housing that will not be forced to convert any Crypto holders to FIAT and assess them as collateral for housing loan applications. The senator noted the US Census Bureau data suggesting that the homeownership for US residents with less than 35 was about 36% of the first quarter of 2025.
The Senate is about to go back to August; Crypto bills will come in
The Crypto-Mortgage Bill is one of three that the United States Senate may consider after the Chamber fits this week for a month’s recession.
In addition to mortgage law, Lummis is one of the leading Republicans who manages a bill to promote a digital asset market structure in the Senate. A bill aimed at the Federal Reserve from the Launching a central digital currency is also considered after passing the House of Representative in July.
The house, which in turn after the spokesman Mike Johnson scheduled the room ahead of the schedule, had a similar crypto mortgage proposal from Republican representative Nancy Mace.
The American Homeowner Crypto Modernization Act, introduced by Mace on July 14, is Need Mortgage lenders “to consider, in the process of mortgage credit evaluation, the value of any digital assets that a borrower is in any broker account associated with a cryptocurrency exchange.”
https://www.youtube.com/watch?v=n1ij2Qyn_ga
An Australian -based company, block earner, said this July Plan to roll Bitcoin-supported mortgages, who have offered a similar path for crypto users to hold their properties.
The launch was announced after the Federal Court of Australia ruled that products lending the company’s crypto Not qualified As financial products under the law of the country’s corporations.
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