A new legislative act proposed by Senator Cynthia Lummis could reshape mortgage lending regulations by including digital assets for borrower assessments.
Details of the Proposed Mortgage Bill
Under the proposed bill, digital assets would be factored into mortgage risk assessments. The legislation requires Fannie Mae and Freddie Mac to accept digital assets recorded on a distributed ledger, effectively making them financial instruments suitable for use in the home loan process.
Moving Into a New Age
Senator Lummis called the bill a practical response to economic change, noting many young Americans now hold wealth in digital assets. She emphasized the need for government agencies to evolve with modern realities. Lummis has expressed support for cryptocurrencies despite her preference for Bitcoin.
What’s Next for XRP and the Broader Market?
The introduction of the bill could signal a shift in how federal institutions treat decentralized financial technologies. While the bill still requires debate before it becomes law, its implications are already resonating in markets and policy discussions.
This bill could be a significant step toward integrating digital assets into the U.S. financial system, paving the way for broader financial inclusion.
