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At the open on Tuesday, Bitcoin (BTC) is trading around $106,065, after a slight intraday drop of 0.98 %. During the first few hours of the day, its price fluctuated between $105,802 and $107,772, reflecting a day of slight correction within its recent trend.
The United States opens the door to the use of cryptocurrencies for mortgages
Federal Housing Finance Agency (FHFA) Director William Pulte made official a directive instructing Fannie Mae and Freddie Mac to develop proposals that allow the use of cryptocurrencies, such as Bitcoin, as part of the assets that applicants can present when applying for a mortgage.
According to the order, only electronic currencies may be considered. deposited in US-regulated exchanges, without the need to convert them to US dollars.
Advantages and risks noted
This decision could expand access to creditor that would allow cryptocurrency holders to apply for mortgages without liquidating their assets, considering them in their financial profile.
High volatilityExperts such as Amanda Fischer and Richard Bernstein warn that cryptocurrency price fluctuations can complicate assessing borrowers' creditworthiness.
Risk to the public treasury: Since Fannie Mae and Freddie Mac are backed by public funds, a collapse of cryptocurrency-based mortgages could shift losses to taxpayers.
Strict controlsOnly Bitcoin held on electronically regulated platforms will be eligible; future regulations will be required to establish parameters for its reliable inclusion.
Fannie and Freddie must submit a detailed plan, including volatility-adjusted valuations and verification protocols, for FHFA approval. Once approved, cryptocurrency-based loans could be introduced to the market in the coming months, although mass adoption will depend on regulatory support and the appetite of traditional lenders.
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