H.R. 4374: American Homeowner Crypto Modernization Act of 2025
The American Homeowner Crypto Modernization Act of 2025 aims to change how mortgage lenders evaluate potential borrowers by requiring them to consider the value of digital assets held in cryptocurrency brokerage accounts. Here’s a summary of the main points of the bill:
Key Provisions
- Deadline for Implementation: The bill mandates that within 24 months of its enactment, relevant agencies must update their mortgage underwriting guidelines.
- Consideration of Digital Assets: Lenders will be required to take into account any cryptocurrency held by a borrower in brokerage accounts when assessing the borrower's creditworthiness for a mortgage.
Agencies Involved
The term "covered agency" refers to the following governmental departments that will be responsible for implementing this legislation:
- Department of Housing and Urban Development (HUD)
- Department of Agriculture (USDA)
- Department of Veterans Affairs (VA)
- Federal Housing Finance Agency (FHFA)
Definition of Digital Assets
A "digital asset" is defined as any digital representation of value that is recorded on a secured distributed ledger, commonly known as blockchain technology.
Implications
This legislation could change the way mortgage lenders assess borrowers, particularly those who have significant investments in cryptocurrency. By including cryptocurrency brokerage account values in the credit evaluation process, more individuals may qualify for mortgages depending on their digital asset holdings.
Relevant Companies
- COIN (Coinbase Global Inc.): A significant cryptocurrency exchange that could see changes in how its users are able to access mortgage lending based on their holdings.
- GS (Goldman Sachs Group, Inc.): This financial services company may adapt its mortgage lending practices to incorporate digital assets as part of its evaluation strategy.
- SCHW (Charles Schwab Corporation): As a brokerage firm that has integrated crypto trading, it may impact its customers' mortgage prospects based on their digital asset management.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
1 sponsor
Actions
2 actions
| Date | Action |
|---|---|
| Jul. 14, 2025 | Introduced in House |
| Jul. 14, 2025 | Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
Corporate Lobbying
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