U.S. Mortgage Regulator to Include Crypto Assets in Risk Assessments

The Federal Housing Finance Agency (FHFA) has instructed Fannie Mae and Freddie Mac to begin treating cryptocurrencies as valid assets in mortgage risk assessments. This marks a major policy shift that reflects growing federal acceptance of digital wealth.

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.

SO ORDERED pic.twitter.com/Tg9ReJQXC3

— Pulte (@pulte) June 25, 2025

Announcing the directive on X, FHFA Director William J. Pulte framed the move as part of President Trump’s broader crypto agenda, stating:

“Today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.”

FHFA Expands Mortgage Criteria to Include Crypto

Previously, digital assets like Bitcoin were typically excluded from home loan applications unless they were first converted to U.S. dollars. Under the new guidance, borrowers can present documented crypto holdings as part of their financial reserves. Notably, this applies only if the assets are stored in the U.S.-regulated centralized exchanges and comply with applicable legal standards.

Fannie Mae and Freddie Mac are expected to develop systems that enable the factoring of crypto assets into single-family mortgage reviews without requiring fiat conversion. According to the FHFA, the aim is to widen access to home financing for individuals who maintain wealth outside traditional banking channels.

The agency emphasized the need for strict controls to mitigate potential risks. Volatile digital assets must be subject to internal pricing adjustments, with limits on the portion of reserves held in crypto. These safeguards are designed to maintain sound lending practices while incorporating alternative forms of wealth.

By incorporating digital assets, the FHFA states that lenders can more effectively assess borrowers and potentially increase access to homeownership.

Seized Crypto to Back New Reserve

At the state level, Arizona is moving to create its own digital asset reserve. Lawmakers have passed HB 2324, a bill that would establish a state-managed fund composed of crypto assets and ETFs acquired through criminal forfeiture.

The bill cleared the House with a 34–22 vote, following a narrow 16–14 passage in the Senate. It now awaits Governor Katie Hobbs’ decision.

If signed into law, the measure would allow the Arizona State Treasurer to manage, invest, or liquidate the fund’s holdings as needed. Supporters argue that the fund could enhance the state’s financial position while embracing digital asset innovation within a well-defined legal framework.