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Five uses Democorts have investigated that their plan for the average crypto of the country of the House can be counted in the approval process for some average crypto.
The senators, led by Jeff Markle, sent a letter to the Federal Housing Finance Agency (FHFA) director William Pulte on Friday, in which he asked his plan to “fully assess his order’s Potential risks and benefits and its implications for the US housing market and financial system.”
Senator Elizabeth Warren, Christ Van Holen, Mazi Deer and Burney Sanders also co-integrated the letter, who asks the PLTE for a response by August. 7.
Last month, Pulte ordered home mortgage buyers Fanny Mae and Freddy Mac to prepare a proposal of how they could consider Crypto in their risk assessment for a single-Family mortgage loan, considering crypto holdings in which Crypto was converted to a US dollar.
FHFA has oversee the Federal Home Loan Mortage Corporation, Federal National Mortage Association or Federal National Mortage Association and Federal National Mortage Association and Federal Home Loan Mortage Corporation since 2008. Crisis, due to the collapse of the subprime market.
Concern on crypto risks for home buyers
The senators stated that the Pulsa Yojana “may offer unnecessary risk to the containers and give the sound of serious security and protection for the use of American housing and financial markets.”
Under the current policy, he stated that Fanny Mae, Freddy Mac, or any other issuer for a federal-supported mortgage did not allow lenders to consider crypto in mortgage determination until already converted to US dollars.
The senators stated that crypto lacks history and liquidity, which transmit the concepts that transmit borrowers using Crypto, “There is a full risk that they may not be able to get out of a crypto situation and can be converted into cash at a price that would be unaware against the risk of decline.”
The senators said, “Crypto is also presented for increased risks of scams, cyber hacks, or damage caused by physical theft, which can leave homovers to lose all crypto assets with litte light hope recovery,” said the senators.
Democrat
The senators stated that they are also solid about how FHFA, Fanny Maai and Freddy would prevent the conflict of interest for those with Mac Crypto relations “who can reduce his proposals, including President Donald Trump and his family.
The Trump Crypto industry includes deeply, tokens, a stabelcoin, a crypto mining business and a trading platform with diverse memecoin and non-fangbal tokens.
Senator also talks on poly, saying that financial exemption shows that his spouse has up to $ 2 million in crypto, which “”
They are “a serious conflict” as the order of the Pulte said that Fanny Mae and Freddy Mac Mac Mac should get approval from their respective boards before proceeding with change, but Paltte is the chairman of the organization’s board, which they also accused them of stacking with “industry colleagues”.
Senators want more clarity on order
The senators also claimed that the PLTE order was unclear and did not involve any information about how Fanny Mae and Freddy Mac would propose, assess the risks and benefits of FHFA, or the agency government assembles the response.
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The risks generated by the glorious lines of the cryptocurrency-based business collapsed in the part in the part due to the risks generated by the glorious lines. ,
The group also mentioned that Fanny Mae found in 2021 that the use of crypto and stabecoin for deposits, payments, or collateral was the “least attractive application” of blockchain in the industry.
He asked Paltte to respond to a serial of questions, in which the ruckus on Crypto, the process of approving the order and among others, how will he reuse from interest.
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