Gov. Mike Braun ceremonially signed into law several measures authored by State Rep. Kyle Pierce (R-Anderson) on May 8, focusing on modernizing Indiana’s financial landscape and increasing transparency for residents.
The legislation responds to the growing prevalence of cryptocurrencies, with recent reports showing that about 30% of American adults own digital assets. The new laws aim to provide clear policies in this area and position Indiana as a leader in emerging financial technology.
House Enrolled Act 1042, written by Pierce, updates retirement investment options by requiring self-directed brokerage accounts within defined contribution plans to include at least one cryptocurrency investment option. The law also enhances investor protections by aligning eligible digital asset investments with federal definitions while excluding payment stablecoins from retirement portfolios.
In addition, House Enrolled Act 1042 protects Hoosiers’ rights to use digital assets and maintain custody of their own digital wallets without unnecessary government interference. The measure encourages blockchain innovation in Indiana by safeguarding digital asset mining and network participation while maintaining local zoning authority so that industrial mining operations are treated like other industrial uses but still allow small-scale mining at home.
“Indiana is taking an innovative approach with emerging financial technologies by expanding investment opportunities and maintaining strong consumer protections,” said Kyle Pierce, vice chair of the House Financial Institutions Committee. “These new laws support local innovation and entrepreneurship in financial technology and ensure Hoosiers can participate in digital asset markets with clarity and confidence.”
