The Indiana state legislature authorized public pension and savings plans to gain exposure to digital assets and spot exchange-traded funds (ETFs), while confirming 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.
Nearly half of the state governments in the United States are either moving toward putting some of their money into crypto or have already done so, and much of this trend has developed since President Donald Trump directed his administration to establish a strategic Bitcoin reserve.
A total of 21 states are investing or evaluating investments in digital assets, primarily bitcoin and in some cases dollar-pegged stablecoins, according to CoinDesk analysis. States such as Arizona, Tennessee, Oklahoma, and Nebraska have signed legislation opening up certain public funds for cryptocurrency purchases, in line with Trump’s promise to make the United States 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 will be subject to enforcement by the Attorney General under deceptive consumer sales laws.
The bill follows warnings from state and local law enforcement about increasing fraud linked to crypto ATMs. In Evansville, Indiana, authorities reported that residents lost approximately $400,000 to kiosk fraud in 2025.
The State Attorney General of Massachusetts filed a lawsuit against ATM operator Bitcoin Depot, alleging that it allowed criminals to use its machines to defraud users. The FBI has estimated that in the first half of 2025, Americans lost $240 million to ATM fraud and that they received nearly 11,000 complaints of ATM fraud in 2024, a 99% increase from the previous year.
