Wu said that William Pulte, Director of the Federal Housing Finance Agency (FHFA), announced that he has formally instructed Fannie Mae and Freddie Mac to develop plans to consider cryptocurrencies as borrower reserve assets in single-family mortgage loan risk assessments, without the need to first convert them into US dollars. The document requires that only crypto assets held in US-regulated centralized exchanges and compliant with relevant legal requirements be considered, and risk adjustment measures be developed in conjunction with factors such as market volatility. The relevant plans still require approval from their respective boards and submission to FHFA for review.