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Americans looking to buy a home will soon be able to use cryptocurrency to help secure a mortgage
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That's under a new order from the Trump administration. The Federal Housing Finance Agency has issued the directive to Fannie Mae and Freddie Mac
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The two companies hold or guarantee about half of the country's mortgages
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The order directs these companies to come up with proposals that allow borrowers to count
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cryptocurrency holdings as assets without needing to trade them for U.S. dollars before closing on
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a loan. In a post on X, the head of the FHFA says that the move is in line with President Donald
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Trump's plan to make America the crypto capital of the world. Cryptocurrency is typically not
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allowed in the underwriting process because of its volatility, regulatory uncertainty and the
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difficulty in verifying reserves. But recently, the crypto industry has seen more favor and
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regulatory movement with the second Trump administration. And that's freeing up the
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finance world to do more business with crypto. For all your latest updates on the Trump
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administration's latest moves, make sure you download the Straight Arrow News app or visit
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san.com. For Straight Arrow News, I'm Lauren Keenan
