Rep. Nancy Mace renewed her push to require federal housing agencies to accept verified crypto holdings in mortgage underwriting. The bill is at committee stage.
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Rep. Nancy Mace is renewing her push to change how mortgage lenders treat cryptocurrency wealth. In a July 19 post on X, she argued that owning crypto should not block homeownership.
"Owning crypto should not disqualify you from owning a home," Mace wrote. "The American Dream is homeownership. Washington keeps making it harder to get there."
She promoted her American Homeowner Crypto Modernization Act, a bill that would require federal housing agencies to update their underwriting rules. The legislation targets the Department of Housing and Urban Development, the Agriculture Department, the Veterans Affairs Department, and the Federal Housing Finance Agency.
The bill does not let borrowers simply list a wallet balance. It focuses on verified holdings. Borrowers would need to provide proof of ownership, transaction records, and exchange documentation.
Mace said the current system ignores assets that hardworking Americans have built through crypto. "The system is stuck in the past," she wrote.
The bill was reintroduced last year and is at the committee stage. It was referred to the House Financial Services Committee and the House Veterans' Affairs Committee. Before any changes take effect, the legislation must clear committee review, pass both chambers of Congress, and receive presidential approval.
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