Overview
- HB1042 orders at least one cryptocurrency ETF option in specified programs, including Hoosier START, the 529 education plan, and teachers’ and public employees’ retirement systems.
- The measure broadens authority for certain pension funds to hold crypto-linked ETFs and lets the state treasurer place portions of designated funds into stablecoin ETFs.
- Exposure under the proposal is limited to regulated exchange-traded funds rather than direct purchases of digital assets.
- The bill preempts local rules that restrict digital-asset payments, custody, or mining, protects residential and industrial mining, and treats private keys as privileged information.
- Lawmakers took early testimony in the House Financial Institutions Committee as sponsor Rep. Kyle Pierce promoted added choice and safeguards, while INPRS remained neutral and highlighted volatility and low member demand.