Crypto investing allowed lower-income Americans to buy homes at a higher rate, according to a paper by the U.S. Treasury's Office of Financial Research.
The Treasury Department's research arm was looking for dangers in crypto households amping up their debt, but they found people buying houses with few problems.The U.S. Treasury Department's researchers were watching out for crypto risks, but they found digital assets enthusiasts with otherwise low incomes were buying homes in recent years at a high rate.
The rise in cryptocurrency investment in recent years came with a pronounced uptick in debt — most notably mortgages — sought in the areas where digital assets activity was highest, according to the research conducted by the Treasury's independent arm that sniffs out U.S. economic hazards. It was looking for evidence that such financial stretching may be a danger to U.S. stability, but so far the researchers found that delinquency rates in those places have remained low.
This potentially sunny piece of federal research could further bolster the case of incoming presidential administration officials who seek to clear a path for greater U.S. crypto adoptions. President-elect Donald Trump is expected to appoint financial regulators who favor friendly regulations and lighter enforcement in the digital assets sector.
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