The Trump administration issued a directive on Wednesday ordering Fannie Mae and Freddie Mac to start considering cryptocurrency as collateral in single-family mortgage loan risk assessments.
The move reflects cryptocurrency’s growing mainstream acceptance as collateral in the United States. The order was signed by William Pulte, director of the Federal Housing Finance Agency.
“Cryptocurrency is an emerging asset class that may offer an opportunity to build wealth outside of the stock and bond markets,” Pulte wrote.
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Cryptocurrency holdings have traditionally not been considered in mortgage risk assessments unless the digital currency is converted to dollars, in which case it would be considered. Once the order is enacted, borrowers will no longer need to convert cryptocurrency before a mortgage loan closes.
The directive said that Fannie Mae
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