Indiana House Bill 1042 Advances Crypto Integration in Public Investment

Indiana is poised to become a leader in integrating cryptocurrency into public investment frameworks. House Bill 1042 (HB 1042) has passed both the House and Senate, awaiting the signature of Governor Mike Braun.

The bill was introduced by State Representative Kyle Pierce and permits public investment funds to engage in the digital currency sector by investing in crypto ETFs. It also requires state-administered plans, such as the Hoosier START 529 education savings plan, to provide access to cryptocurrency investments through self-directed brokerage accounts.

HB 1042 sets limits on how public agencies may regulate digital asset activities, prohibiting restrictions on lawful use or custody of digital assets. Individuals may accept cryptocurrency as payment for legal goods and services, and the state is barred from imposing special taxes on crypto transactions.