Bitcoin breaks through $108,000! Trump's policies help crypto assets knock on the door of U.S. mortgage loans

According to the Zhitong Finance APP, the Federal Housing Finance Agency (FHFA) recently issued a landmark directive requiring government-sponsored enterprises (GSEs) Fannie Mae (FNMA.US) and Freddie Mac (FMCC.US) to formally incorporate cryptocurrencies into the risk assessment framework for single-family mortgages. This order, signed by Director William J. Pulte, marks the first time cryptocurrencies have been included in the core areas of the U.S. housing finance system, echoing President Trump's strategic vision of "making America the world's cryptocurrency capital."

Cryptocurrency Officially Recognized: From Marginal Asset to Core of Mortgages

Under the new regulations, Fannie Mae and Freddie Mac must develop proposals allowing borrowers to directly use cryptocurrencies as proof of assets for mortgage applications, without needing to convert them to U.S. dollars before loan issuance. This initiative breaks the traditional financial system's rejection of cryptocurrencies, which have long been hindered from entering the mainstream credit market due to their high volatility, regulatory uncertainty, and challenges in verifying reserves.

The FHFA explicitly stated in the directive: "Cryptocurrencies are an emerging asset class that may provide households with wealth accumulation channels beyond stocks and bonds." To control risks, the policy only allows the acceptance of digital assets stored in U.S. regulated centralized exchanges and with complete audit proof. At the same time, both institutions must establish internal risk control mechanisms to set risk-weighted reserve standards based on the market volatility of cryptocurrencies, ensuring that underwriting standards are not impacted. Currently, the related proposals have entered the board review stage, and the final plan must be approved by the FHFA before implementation.

Market Reaction: Bitcoin Hits Historic Highs as Policy Boosts Institutional Layout

Following the policy announcement, the cryptocurrency market showed a mixed trend. Bitcoin's price broke through the $108,000 mark in intraday trading the day after the directive was released (Wednesday), reaching a historic high, while Ethereum and Solana saw slight declines. Analysts believe that easing concerns over the geopolitical situation in the Middle East, combined with the Federal Reserve's statement on the "increasing maturity" of stablecoins, collectively boosted market sentiment.

Federal Reserve Chairman Jerome Powell stated at a Senate hearing that the stablecoin industry has significantly integrated into the mainstream financial system, further boosting market confidence. Meanwhile, the New York Stock Exchange (NYSE) is promoting the listing of a cryptocurrency-themed ETF planned by Truth Social, a social media platform under Trump. If this ETF is approved by the SEC within the next 90 days, it will become a key case for the Trump administration's digital asset strategy.

Policy Game: Senate Advances Cryptocurrency Legislation as Industry Giants Accelerate Entry

Cynthia Lummis, chair of the Senate Digital Asset Banking Committee, revealed on Wednesday that the "Cryptocurrency Regulatory Framework Act" she leads has entered the detailed negotiation stage. In an interview, she emphasized that the U.S. needs to take a dominant position in the regulation of digital assets, stating, "Some overseas markets have already completed rule design, and we cannot fall behind any longer."

In the industry, traditional financial institutions are accelerating their layout in the cryptocurrency field. Digital asset technology company Digital Asset announced on Tuesday that it has completed $135 million in financing, with investors including Wall Street giants such as Goldman Sachs and Citadel Securities The company's CEO Yuval Rooz stated that this round of financing will be used to expand its blockchain technology platform to support the compliance needs of financial institutions for digital asset operations.

Historical Background and Industry Impact

It is worth noting that the family business of FHFA Director William Pulte, Pulte Group, is one of the largest home builders in the United States, and its background may add industrial synergy to policy advancement. Since being taken over by the government after the 2008 financial crisis, Fannie Mae and Freddie Mac's reform also marks their functional transformation as GSEs in the digital age.

Industry insiders point out that if cryptocurrencies successfully integrate into the mortgage system, it will not only reshape household asset allocation patterns but may also drive the dollar-dominated global financial system towards a multi-asset era. With dual efforts from both policy and market sides, cryptocurrencies are gradually evolving from speculative tools to components of traditional financial infrastructure