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A comment on Buying Real Estate with Crypto: New Mortgages Are Backed by Coins. Parent comment

Re:Buying Real Estate with Crypto: New Mortgages Are Backed ... by rmbyrro on Saturday April 30, 2022 @10:03PM (#31221427)
And why doesn't KYC get in the way of offering crypto as collateral for a loan?

If this was so simple and possible, every criminal would be laundering money this way, wouldn't they?

[ Parent | on HN ]
Re:Buying Real Estate with Crypto: New Mortgages Are Backed ... by ______-_-______ on Saturday April 30, 2022 @10:14PM (#31221488)
Usually crypto-backed loans are made by crypto-focused companies. You can tell BlockFi (for example) you bought $100 of bitcoin 10 years ago and that's good enough for them. But Wells Fargo would require some actual documentation, and (probably?) not even accept crypto as collateral to begin with
[ Parent | on HN ]
Re:Buying Real Estate with Crypto: New Mortgages Are Backed ... by sofixa on Sunday May 01, 2022 @04:15AM (#31223114)
> not even accept crypto as collateral to begin with

Isn't crypto generally far too volatile to serve as collateral?

[ Parent | on HN ]