In a landmark decision, Federal Housing Finance Agency Director William Pulte announced plans to consider cryptocurrency as a mortgage asset on Wednesday, aligning with President Donald Trump’s vision of making the U.S. a global crypto hub.
What Happened: Pulte took to X, directing federally backed mortgage giants Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) to prepare their businesses to count cryptocurrency as an asset for a mortgage.
Pulte said the decision was undertaken after “significant studying” and in line with Trump’s vision of making America the crypto capital of the world.
The directive asked Fannie and Freddie to consider only those assets that can be stored on a U.S.-regulated cryptocurrency exchange, subject to applicable laws.
FHFA said that the new consideration could enable Fannie and Freddie to assess the full spectrum of assets available for reserves and facilitate “sustainable homeownership to creditworthy borrowers.”