Wyoming senator Cynthia Lummis has introduced a law that could codify an order from an American housing regulation agency for mortgage buyers to examine digital assets in requests.
In a Tuesday opinion, Lummis said that his bill, the 21st century mortgage loans, would take Congress measures following a June order from the Federal Housing Finance Agency (FHFA) in the United States. In this order, buyers of American mortgage loans Fannie Mae and Freddie Mac would be required to “consider cryptocurrency as an asset for unifamilial loans”.
“This legislation adopts an innovative path to the creation of wealth by keeping in mind the growing number of young Americans who have digital assets,” said Lummis.
Several Democrats in the Senate have already rejected the FHFA ordinance, calling the director William Pulte to “fully assess the potential risks and advantages” of the addition of crypto to mortgage requests, as well as its potential impact on the housing market and the financial system.
“Insofar as historic volatility and liquidity even persist as the market ripens, a borrower using cryptography faces an increased risk of not being able to leave a cryptographic position and convert into a price at a price that would allow them to dab against the risk of default of mortgage,” the Democrats said in a letter of July 24 in Pulte.
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The law proposed by Lummis has targeted young Americans who find it difficult to find affordable long -term housing which would not be forced to convert cryptographic assets into Fiat and assess them as guarantee for requests for housing loan. The senator cited data from the US census office suggesting that ownership of American residents under 35 was around 36% in the first quarter of 2025.
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The Crypto-Morgage bill is one of the three that the US Senate can consider after the adjournment of the House this week for a month-long recreation.
In addition to mortgage legislation, Lummis is one of the main republicans in charge of a bill aimed at establishing a digital asset market structure in the Senate. A bill to prevent the federal reserve from launching a digital currency from the Central Bank is also being studied after adopting the House of Representatives in July.
The room, already in recess after President Mike Johnson, postponed the room before the possibility, has a mortgage proposal for similar crypto by republican representative Nancy Mace.
The American Homeowner Crypto Modernization Act, introduced by MACE on July 14, would oblige mortgage lenders “to consider, in the process of assessing mortgage credit, the value of any digital active ingredient that a borrower has in any brokerage account associated with an exchange of cryptocurrency.”
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A company based in Australia, Block Earner, said in July that it planned to deploy mortgages supported by Bitcoin, which offered a similar path for crypto users to hold their assets.
The launch was announced after the Australian Federal Court held that the company’s crypto loan products are not considered financial products under the country’s companies law.
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