# Sen. Lummis Introduces Bill to Greenlight Crypto for Mortgages

*Author: Bankless*
*Published: Jul 29, 2025*
*Source: https://www.bankless.com/read/sen-lummis-introduces-bill-to-greenlight-crypto-for-mortgages*

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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.
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