The Genius Act is now official—and it’s changing how the U.S. sees digital money. This new law brings rules for stablecoins. It may also help people use their crypto savings to buy a home from FHFA.
The Genius Act says stablecoins must be backed by real assets like cash or U.S. bonds. These are digital coins that try to stay equal to one dollar. The law also asks companies to report their holdings every month to prove the coins are safe. And no, they can’t pay interest or rewards to attract risky behavior. The U.S. government wants to make crypto more stable, trusted, and ready for everyday use.
Alongside the Genius Act, the FHFA (the group that watches over home loans) is also making big moves. They want to let people count their crypto savings—even without cashing out—when applying for mortgages. For homebuyers, the Genicus Act comes at a time when mortgage rules are changing too. The FHFA is exploring how to include crypto in mortgages. Experts say people who hold crypto in their own wallets (self-custody) should not be punished. Well-managed personal wallets can be very secure, even safer than big exchanges. If rules forced everyone to move coins to big companies, that could actually add risk for home buyers. The Genicus Act’s clear rules may help reassure banks that crypto savings are real assets.
Right now, most banks only accept cash. But with this change, your crypto wallet might help you buy a house. One concern: Some experts say people shouldn’t be forced to move their coins to big exchanges. Keeping crypto in your own wallet (called “self-custody”) can be just as safe—or even safer.
The Genius Act, along with these new housing ideas, shows that the U.S. is getting serious about using crypto in real life—not just for trading. From sending money to qualifying for a mortgage, this could be the start of something big.
Conclusion:
Genius Act brings rules for stablecoins. FHFA wants to let crypto count toward mortgage approval. Self-custody wallets are being discussed as safe options. These steps could make crypto more useful for everyday people.
Read also: Genius Act Becomes Law A New Dawn for Stablecoin Rules
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