Cynthia Lummis Proposes Bill To Include Digital Assets Like Bitcoin, Ethereum In Mortgage Lending, Targeting Younger Homebuyers
Sen. Cynthia Lummis (R-Wyo.) proposed a bill on Tuesday that seeks to incorporate cryptocurrencies into the mortgage eligibility process.
What Happened: The proposed legislation, dubbed the 21st Century Mortgage Act, requires government-sponsored enterprises to consider digital assets, such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), for single-family home loans.
If passed, the bill will direct federally backed mortgage giants Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) to include digital assets recorded on a “cryptographically-secured distributed ledger” in their mortgage risk assessments for single-family home loans.
The bill also prohibits the conversion of these digital assets into dollars, respecting the nature of “digital wealth.”
“This legislation embraces an innovative path to wealth-building, keeping in mind the growing number of young Americans who possess digital assets,” Lummis said.
Why It Matters: The proposed bill builds on the directive issued by the Federal Housing Finance Agency Director William Pulte last month, instructing Fannie Mae and Freddie Mac to consider cryptocurrency as a mortgage asset.
It comes at a time when homeownership for Americans under 35 is at a historically low level of 36.6% as of early 2025. At the same time, 21% of U.S. adults now own cryptocurrency, with 67% of crypto owners under the age of 45, according to the 2025 State of the Crypto Holders Report
The bill is part of a broader effort by Lummis to help position the U.S. as the global hub of cryptocurrency. Earlier in the month, she, along with fellow Republican senators, released a discussion draft for market structure legislation aimed at eliminating regulatory confusion and promoting the industry’s growth.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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