According to a letter sent on July 25, Senators Elizabeth Warren, Bernie Sanders, Jeff Merkley, Chris Van Hollen, and Mazie Hirono are urging Pulte to reconsider the idea. They say it could open the door to instability in both the housing and financial markets.
After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.
“Historical volatility and liquidity issues remain in the crypto market,” the letter states. The lawmakers worry borrowers might struggle to sell off their holdings when needed or fail to turn their digital assets into cash quickly in emergencies.
That’s a key shift. Right now, borrowers are typically judged based on cash or liquid assets. Including raw, unconverted crypto would be a first.
Supporters see it as a step forward. Former Binance CEO Changpeng “CZ” Zhao applauded the move last month, saying, “This is great to see, BTC counts as assets for mortgage.”
This clash between lawmakers and regulators comes as Washington is still figuring out how to handle crypto. Some want tighter controls. Others see the industry as maturing and ready for broader financial use.
Right now, it’s not a done deal. The rule is just being considered, not fully approved yet. But it’s a big topic because it mixes two big things—housing and crypto—and not everyone agrees it’s a good mix.
Featured image from Unsplash, chart from TradingView
