Changpeng Zhao, former CEO of Binance, has declared that owning Bitcoin could soon replace home ownership as the American dream. Zhao praised the FHFA's directive for Fannie Mae and Freddie Mac to consider cryptocurrencies in mortgage risk assessments.
The FHFA's order asks these agencies first to explore using cryptocurrencies as mortgage reserve assets without converting them to US dollars. Prospective homeowners could use crypto holdings on regulated US exchanges as part of their mortgage applications if adopted.
FHFA Director Bill Pulte described the move as historic for cryptocurrency and mortgage industries. He credited President Donald Trump for helping position the US as a global crypto hub.
Meanwhile, during a recent White House press briefing, Trump praised Bitcoin, highlighting its benefits for the US dollar.
