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Sen. Lummis Introduces Bill to Greenlight Crypto for Mortgages

The legislation aims to guarantee crypto holdings count toward home loans without conversion.
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Jul 29, 2025 • 1 min read

Senator Cynthia Lummis has introduced the 21st Century Mortgage Act, which would codify the use of cryptocurrency holdings – held on U.S.-regulated exchanges – as eligible reserves when applying for a Fannie Mae or Freddie Mac-backed mortgage.

What’s the Scoop?

  • New Bill Filed: The bill mandates that crypto assets on regulated U.S. exchanges be accepted as qualifying reserves for single-family mortgage underwriting.
  • Backs FHFA Directive: It reinforces a June 25 order from FHFA Director Bill Pulte directing GSEs to draft proposals for treating crypto as an eligible asset class.
  • Asset Conditions: Crypto must be held on centralized U.S. exchanges and remain verifiable under federal reporting standards – no self-custody or off-shore wallets allowed.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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