Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Massive Move Incoming? PENGU Charts Flash Green

July 30, 2025

Michael Saylor Reacts to Bitcoin Dip With Famous Nike Founder’s Quote

July 30, 2025

11,370 ETH Withdrawal Stuns Coinbase: Bullish Signal?

July 30, 2025

Orca releases Wavebreak launchpad for Solana tokens

July 30, 2025

BlackRock Analysts Predict Major Bitcoin Surge As US Legislation Strengthens Stablecoins

July 30, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Massive Move Incoming? PENGU Charts Flash Green

    July 30, 2025

    BlackRock Analysts Predict Major Bitcoin Surge As US Legislation Strengthens Stablecoins

    July 30, 2025

    PUMP Price Breaks Out After Buyback Boost: Another 100% Surge Next?

    July 30, 2025

    Dogecoin Unlock To Put $22.9M Worth Of Tokens Into Circulation

    July 30, 2025

    Ethereum Turns 10: What Will Define the Next Decade?

    July 30, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Bitcoin » Senator Lummis Bill forces federal agencies to confront crypto’s role in wealth building
Bitcoin

Senator Lummis Bill forces federal agencies to confront crypto’s role in wealth building

Crypto Observer StaffBy Crypto Observer StaffJuly 29, 2025No Comments3 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

Senator Lummis is dragging federal housing agencies into the 21st century with a bill that mandates crypto be recognized in mortgage approvals. The move challenges decades-old lending rules, potentially opening doors for young buyers, but critics warn it could destabilize the system.

Summary

  • Senator Cynthia Lummis introduced a bill requiring Fannie Mae and Freddie Mac to recognize crypto assets in mortgage evaluations.
  • The 21st Century Mortgage Act targets outdated lending criteria and responds to low homeownership rates among Americans under 35.
  • Critics, including Senators Warren and Sanders, argue the move could inject risk into the housing market due to crypto volatility

On July 29, U.S. Senator Cynthia Lummis introduced the 21st Century Mortgage Act, a bill that would require Fannie Mae and Freddie Mac to factor cryptocurrency into single-family mortgage evaluations.

The proposal codifies a recent directive from Federal Housing Finance Agency Director William Pulte and would formally instruct the two government-sponsored enterprises to consider digital assets held on public blockchains as part of borrowers’ financial profiles, without requiring conversion into U.S. dollars.

According to Lummis, the legislation aims to modernize mortgage eligibility criteria to reflect how an increasing number of younger Americans store and grow their wealth.

Why crypto could be the missing piece in America’s homeownership crisis

Senator Lummis’ push to include crypto in mortgage assessments is a direct response to a generational wealth gap that has left millions of young Americans locked out of homeownership. With U.S. Census Bureau data showing just 36.6% of adults under 35 own homes, the lowest rate since tracking began in 1982, traditional paths to property ownership are failing.

Meanwhile, digital assets have emerged as a primary wealth-building tool for this same demographic, with 21% of U.S. adults now holding cryptocurrency, and 67% of those investors under 45.

“The American dream of homeownership is not a reality for many young people,” Lummis said. “This legislation embraces an innovative path to wealth-building keeping in mind the growing number of young Americans who possess digital assets. We’re living in a digital age, and rather than punishing innovation, government agencies must evolve to meet the needs of a modern, forward-thinking generation.”

But while Lummis frames the move as financial progress, Democratic lawmakers see it as a gamble. Senator Elizabeth Warren, Bernie Sanders, and others warned in a letter to Pulte that allowing volatile digital assets into mortgage underwriting could “pose risks to the stability of the housing market and the financial system.”

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Michael Saylor Reacts to Bitcoin Dip With Famous Nike Founder’s Quote

July 30, 2025

Euro Going to Zero Against Bitcoin, Predicts Max Keiser

July 30, 2025

Are Bitcoin whales leaving while Ethereum gains?

July 30, 2025

Glassnode Shares Updated Analysis for Bitcoin and Ethereum! Will the Rise Continue?

July 30, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Massive Move Incoming? PENGU Charts Flash Green

July 30, 2025

Michael Saylor Reacts to Bitcoin Dip With Famous Nike Founder’s Quote

July 30, 2025

11,370 ETH Withdrawal Stuns Coinbase: Bullish Signal?

July 30, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

BlackRock Analysts Predict Major Bitcoin Surge As US Legislation Strengthens Stablecoins

July 30, 2025

PUMP Price Breaks Out After Buyback Boost: Another 100% Surge Next?

July 30, 2025

Dogecoin Unlock To Put $22.9M Worth Of Tokens Into Circulation

July 30, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.