H. R. 8480, also known as the “American Homeowner Crypto Modernization Act of 2024,” aims to update mortgage underwriting processes in the United States. The bill requires government agencies to ensure that mortgage lenders consider any U.S. dollar amounts a borrower holds in...
Simple Explanation
The bill wants to make sure that when banks decide if someone can get a mortgage for a house, they also look at how much money the person has in their cryptocurrency accounts, like digital piggy banks. This helps them see all the money someone has, not just what's in the regular bank.