American Senator Introduces Bill to Count Crypto in Mortgage Eligibility

U.S. Senator Cynthia Lummis (R-Wyo.) has introduced the 21st Century Mortgage Act, a landmark bill that seeks to modernize federal home loan underwriting by including digital assets in mortgage eligibility assessments.

The legislation, unveiled on July 29, targets Fannie Mae and Freddie Mac, directing them to recognize cryptographically recorded assets—such as cryptocurrencies—as part of a borrower’s financial profile.

Under current practices, borrowers are often required to convert digital assets into U.S. dollars before lenders consider them in mortgage applications. Lummis’s bill would prohibit such requirements, aiming to bring parity to how digital-era savings are treated in the housing finance system.

Lummis framed the bill as a direct response to declining homeownership among younger Americans, a demographic increasingly active in cryptocurrency investment. “Rather than punishing innovation, government agencies must evolve to meet the needs of a modern, forward-thinking generation,” she said in a statement.

READ MORE:

U.S. Dollar Comes Onchain as GENIUS Act Ushers in Digital Era

Supporting her proposal, Lummis cited Census Bureau data showing that only 36.6% of Americans under 35 owned homes in Q1 2025. She also pointed to recent surveys indicating that 21% of U.S. adults hold crypto, with two-thirds under the age of 45—highlighting the importance of adapting lending standards to reflect contemporary wealth-building behavior.

If passed, the bill would mark a significant milestone in integrating crypto assets into mainstream financial services and may set a precedent for broader federal recognition of digital asset ownership in regulatory frameworks.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.