Nikolas Sargeant
The U.S. Department of Housing and Urban Development (HUD) is considering the use of cryptocurrency and blockchain technology within its operations, according to a ProPublica report. The department has held internal discussions to explore how these technologies could enhance the monitoring of HUD grants and potentially streamline some of its financial processes. Sources close to the matter suggest that such an initiative could serve as a pilot for broader adoption of blockchain and crypto technologies across federal agencies.
This move aligns with broader governmental efforts to position the U.S. as a global leader in cryptocurrency. Recently, President Donald Trump signed an executive order aimed at establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, reinforcing his pledge to make the U.S. the "crypto capital of the world." At a White House summit, Trump also expressed hopes for stablecoin legislation and efforts to end crypto debanking by mid-year.
According to ProPublica’s sources, one of the ideas under consideration is the use of a stablecoin, though specific details about the blockchain or stablecoin under discussion remain unclear. The report further suggested that HUD could experiment with paying grantees in cryptocurrency, a move that would represent a significant step toward integrating digital currencies into government operations.
Despite these talks, a HUD spokesperson clarified that there are currently no plans to adopt blockchain or stablecoin technology at this time. However, the department’s interest in these technologies underscores a growing trend within the federal government to explore how digital currencies and decentralized ledgers could transform public sector operations.
