this Trump administration Considering cryptocurrencies as an asset in home loan risk assessment is being considered, a change that will greatly expand the role of cryptocurrencies in the traditional U.S. financial system.
The Federal Housing and Financial Services Agency (FHFA) Minnie May and Freddy McKeTwo businesses were asked Wednesday to prepare to adjust their policies to use cryptocurrency as asset assets on a single-family mortgage loan loan,according to statement Director from FHFA William Pulte. Fannie Mae and Freddie Mac It is a government-funded business that guarantees most residential mortgages in the United States
“To fit President Trump’s vision and make the United States the crypto capital of the world, today I command the great Fannie Mae and Freddie Mac Write In a social media post Wednesday.
Directive states Fannie Mae and Freddy Mike should only consider crypto investments in detention, which can be verified by centralized transactions regulated by the U.S. Common cases. The directive also states that businesses should consider ways to mitigate risks associated with cryptocurrencies, such as “adjusting to market volatility and ensuring adequate risk-based adjustments to the share of reserves composed of cryptocurrencies,” according to the FHFA statement.
In a typical mortgage risk assessment of Fannie Mae and Freddie Mac, if crypto investors want to consider their holdings as assets, they must convert their digital currency into Bitcoin and EthereumEnter the dollar before the loan ends. The new FHFA directive aims to eliminate the need for those seeking loans to do so, allowing crypto investors to maintain their holdings throughout the loan process.
The directive is “a landmark moment that acknowledges that modern wealth is not always in traditional bank accounts,” Adam Reeds, CEO of crypto lending company Ledn, told crypto loan company Ledn wealth. “For many Bitcoin holders, selling their cryptocurrency to help qualify for a mortgage means creating a large amount of capital gains taxes and giving up on future upside.”
The directive is a major issue with President Donald Trump making cryptocurrency the main issue in his second term. After taking office, Trump quickly began to make many of his campaign promises, including building a country Bitcoin Reserves And appointed Pro-Claputo government officials. Under the Trump administration, the Securities and Exchange Commission (SEC) has also put many of its investigations on U.S. cryptocurrency companies launched by the Biden administration.
The instructions given to Fannie Mae and Freddie Mac on Wednesday mark another step in Trump’s pursuit to greatly improve the role of cryptocurrencies in the U.S. economic system.
“It marks an institutional recognition of the role of cryptocurrencies in individuals and companies’ balance sheets,” Lamine Brahimi, co-founder of crypto infrastructure company Taurus, told Taurus. wealth.
