In a major step towards adopting Bitcoin, the U.S. Federal Housing Administration announced the acceptance of Bitcoin and other cryptocurrencies as collateral for home loans.
According to the decision, applicants have the right not to convert cryptocurrencies into cash to secure financing, provided that these assets are held on U.S. centralized platforms like Coinbase. A mechanism is expected to be launched to deal with the sharp volatility of cryptocurrency assets.
CZ also commented on the news and considered it a big step for Bitcoin to be recognized as an asset for mortgage loans and that the American dream is considered owning a home.
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