Indiana prepares to put bitcoin in its public retirement plans

• Indiana lawmakers approved a bill allowing public retirement and savings plans to invest in digital assets and spot crypto ETFs, with Gov. Mike Braun expected to sign it soon.
• The move places Indiana among at least 21 states that are investing in or evaluating bitcoin and other digital assets for public funds, in line with former President Donald J. Trump’s push to expand U.S. crypto holdings.
• In a separate measure, Indiana legislators voted to ban crypto ATMs statewide after law enforcement reported rising fraud, including about $400,000 in related scams in Evansville in 2025.

The Indiana state legislature authorized public retirement and savings plans to gain exposure to digital assets and spot exchange-traded funds (ETFs), while affirming residents’ access to crypto investments.

Governor Mike Braun is expected to sign HB 1042 into law within the next 10 days.

Indiana joins at least seven other states, including Wyoming, Wisconsin, Michigan and Arizona, that have moved to integrate crypto-linked products into public investment frameworks.

Almost half of the state governments in the U.S. are either on a path toward putting some of their money into crypto or already have, with much of this trend developing since President Donald Trump directed his administration to establish a Bitcoin Strategic Reserve.

A total of 21 states are investing or evaluating investments in digital assets, primarily bitcoin BTC$68,056.93, and in some cases dollar-pegged stablecoins, according to CoinDesk analysis. States such as Arizona, Tennessee, Oklahoma and Nebraska have signed legislation opening certain public funds to cryptocurrency purchases, aligning with Trump’s pledge to make the U.S. the “crypto capital of the world.”

The Indiana legislature passed another crypto-related measure on Tuesday banning the operation of virtual currency kiosks, commonly known as crypto ATMs, across the state. Violations would be subject to enforcement by the state attorney general under deceptive consumer sales laws.

The bill follows warnings from state and local law enforcement about rising fraud tied to crypto ATMs. In Evansville, Indiana, authorities reported that in 2025 residents lost approximately $400,000 in scams connected to the kiosks.

The Massachusetts state Attorney General filed a lawsuit against ATM operator Bitcoin Depot alleging they allowed criminals to use its machines to scam users. The FBI has estimated that in the first half of 2025, Americans lost $240 million to crypto ATM fraud and that it received nearly 11,000 ATM fraud complaints in 2024, a 99% increase from the previous year.

• U.K. investors will not be able to add crypto ETNs to the tax-free savings accounts known as ISAs from the start of the next tax year.
• The tax authority will reclassify the exchange-traded notes as qualifying instruments only for Innovative Finance ISAs, rather than for mainstream stocks-and-shares ISAs.
• None of the 57 platforms currently authorized to offer Innovative Finance ISAs has plans to support crypto ETNs.

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