Senate Bill Proposes Inclusion of Crypto in Mortgage Assessments

According to ShibDaily, a new Senate bill introduced by Senator Cynthia Lummis, known as the 21st Century Mortgage Act, aims to modernize the U.S. mortgage system by incorporating digital assets into the evaluation process for home loans. This legislation would require government-sponsored enterprises, specifically Fannie Mae and Freddie Mac, to consider cryptocurrency holdings when assessing mortgage applications. The bill represents a significant step toward integrating digital assets into traditional financial systems, potentially allowing crypto holdings to contribute to securing a home loan. Senator Lummis, often referred to as the "Crypto Queen" on Capitol Hill, highlighted the importance of adapting federal housing policies to align with the evolving trends in asset ownership. She emphasized that the American dream of homeownership remains elusive for many young people, and this legislation seeks to provide an innovative path to wealth-building by acknowledging the growing number of young Americans who own digital assets. The proposed bill mandates that Fannie Mae and Freddie Mac account for digital assets recorded on cryptographically secured distributed ledgers when evaluating mortgage risk for single-family home loans. Importantly, the bill prohibits any requirement to convert these assets into U.S. dollars, thereby preserving the integrity of digital wealth. For holders of cryptocurrencies like SHIB, this legislative move signifies a meaningful advancement toward broader mainstream acceptance of their digital assets. By formally recognizing cryptocurrencies within established financial systems, the proposed Senate bill aims to reduce the barriers that currently limit the use of tokens in traditional financial portfolios or as collateral for loans. This increased acceptance could facilitate the integration of SHIB and similar tokens into mortgage, lending, and borrowing platforms, offering new opportunities for holders to unlock liquidity, secure loans, or diversify their investment strategies across both decentralized finance and conventional markets. This development also reflects a broader trend of regulatory openness toward crypto assets, which may encourage further innovation and adoption. Over time, such integration could significantly enhance SHIB's utility and value proposition, making it a more practical and accessible asset for everyday financial activities. Readers are advised to conduct their own research and consult with a qualified financial adviser before making any investment decisions. This article is provided for informational purposes only and should not be construed as financial advice.