Indiana Lawmaker Proposes Broad Crypto Bill Avoiding Asset Favoritism
Indiana State Representative Kyle Pierce (R) has introduced a comprehensive cryptocurrency bill designed to avoid favoring specific assets or imposing market-cap thresholds. The legislation allows Indiana public services to invest in ETFs with cryptocurrency exposure through retirement and savings programs while establishing protections for both crypto users and firms.
Unlike measures in states such as New Hampshire, which apply market-cap thresholds, Pierce’s bill is asset-agnostic and aims to promote the broader cryptocurrency market rather than favoring coins like Bitcoin or Ethereum. The bill also includes protections for cryptocurrency miners, ensuring they will not face targeted government actions despite their higher energy consumption compared to proof-of-stake networks like Ethereum.
During the drafting process, there were discussions about implementing market-cap thresholds, but Pierce did not consider that the starting point. He noted that eligibility for newer cryptocurrencies in retirement assets could be evaluated in the future. The draft bill was developed with input from industry groups including the Satoshi Action Fund, whose policy framework has been enacted in eight states.
