Sponsors
11 Republican
Cynthia LummisSenator · WY
This bill mandates that government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac incorporate digital asset holdings into mortgage loan risk assessments. It defines eligible digital assets as fungible, cryptographically-secured representations of value on a distributed ledger, held under qualified custodial arrangements. These digital assets can be included in a borrower's financial reserves for a mortgage without needing prior conversion to U.S. dollars. The bill also requires GSEs to implement risk adjustments for market volatility, liquidity, and asset concentration.
This legislation represents a significant step towards the integration of digital assets into mainstream financial products by requiring GSEs to recognize them as valid reserves for mortgage applications. By allowing digital assets to be counted directly, without mandatory conversion to fiat, the bill enhances their utility and perceived legitimacy within the traditional financial system. The inclusion of definitions for 'digital asset' and 'qualified custodial arrangement' provides specific regulatory clarity for a critical use case, reducing ambiguity for both borrowers and lenders. While the bill includes standard risk mitigation measures, such as adjustments for market volatility and liquidity, these are appropriate for integrating a new asset class and do not impose undue burdens. This initiative enables a major useful application for crypto holders, fostering greater adoption and providing explicit rules of the road for a new financial pathway.
Every member who has sponsored, cosponsored or voted on this bill. Pick a vote to see how each member voted on it, or narrow by party, name or state.
1 Republican