"Indiana wants in. Lawmakers gave HB 1042 an early hearing as they juggle redistricting, signaling the issue is a top priority for Republicans. "Digital assets are quickly becoming part of everyday finances, and Indiana should be ready to engage in a smart, responsible way," said bill author Rep. Kyle Pierce, R-Anderson. "This bill gives Hoosiers more investment choices while establishing guardrails and helping us explore how blockchain and digital asset technology can benefit communities across our state.""
"The Indiana bill would let public investment funds gain exposure to digital assets, but only indirectly. It does not allow direct crypto purchases. Instead, it authorizes cryptocurrency exchange-traded funds, or ETFs. These funds track crypto prices and operate under federal oversight. ETFs offer more stability than holding tokens directly, but risks remain. The SEC has warned that crypto markets still lack strong safeguards and are vulnerable to fraud and manipulation."
"ETFs offer more stability than holding tokens directly, but risks remain. The SEC has warned that crypto markets still lack strong safeguards and are vulnerable to fraud and manipulation. That concern surfaced in testimony from Tony Green, deputy executive director of the Indiana Public Retirement System. He said INPRS was neutral on the bill but would want clear disclaimers about volatility. He also noted members have shown little interest in crypto options."
House Bill 1042 would permit Indiana public investment funds to gain exposure to digital assets indirectly by authorizing cryptocurrency exchange-traded funds under federal oversight and prohibiting local governments from restricting crypto companies. The measure would require several major state programs, including the 529 education savings plan, to offer at least one crypto ETF. ETFs are presented as a more stable way to access crypto prices than holding tokens directly, but regulatory and volatility risks remain, with the SEC warning of weak safeguards and public retirement testimony urging clear volatility disclaimers.
Read at Bitcoin Magazine
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