BlockBeats News, June 29th, Ark Invest CEO Cathie Wood stated, "Bitcoin holders have most likely allocated a significant portion of their net worth to cryptocurrency, making them ineligible for a mortgage. I wouldn't be surprised if they were to transfer some of their Bitcoin to Coinbase as collateral for a house that was once out of reach."
Prior to this, crypto reporter Eleanor Terrett revealed that Fannie Mae and Freddie Mac have been instructed to explore incorporating cryptocurrency into mortgage applications' reserve requirements. This means that cryptocurrency will not need to be converted into dollars but will be included in the reserve requirements in spot form. Furthermore, as per the requirements, only cryptocurrencies listed on US-regulated exchanges are eligible to be included in Fannie Mae and Freddie Mac's mortgage reserve requirements, and the related assets must also take volatility protection measures.
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