Deep Tide TechFlow news, on July 29, U.S. Senator Cynthia Lummis from Wyoming introduced the (21st Century Mortgage Act). This bill requires Fannie Mae and Freddie Mac to consider digital assets recorded on distributed ledgers when assessing the eligibility for single-family residential mortgages, and they cannot be mandated to convert these digital assets into U.S. dollars.
Data shows that in the first quarter of 2025, the homeownership rate for Americans under 35 fell to 36.6%, the lowest recorded since 1982. Meanwhile, the (Cryptocurrency Holder Status Report) indicates that currently, 21% of U.S. adults own cryptocurrency, with 67% of holders being under 45 years old.
The bill aims to improve the chances for the younger generation to obtain housing loans by recognizing digital assets as wealth assessment indicators. This move is a legal confirmation of the previous directive from the Federal Housing Finance Agency regarding considering cryptocurrency as an asset in single-family residential loans delivered by Fannie Mae and Freddie Mac.