Fannie Mae and Freddie Mac have started using crypto assets as reserves, even though they still have to be held in compliant CEXs — but the signal is strong enough: another wall between traditional finance and crypto has crumbled.

According to Bishijie, Wu said that William Pulte, Director of the Federal Housing Finance Agency (FHFA), announced that he has officially instructed Fannie Mae and Freddie Mac to develop a plan to consider cryptocurrency as a borrower's reserve asset in the risk assessment of single-family mortgage loans, without the need to convert it into US dollars in advance. The document requires that only crypto assets held in US-regulated centralized exchanges that comply with relevant legal requirements be considered, and risk adjustment measures should be formulated based on factors such as market volatility. The relevant plans still need to be approved by their respective boards and submitted to the FHFA for review.