The Indiana Legislature authorized public retirement and savings plans to obtain investments in digital assets and spot exchange-traded funds (ETFs), while confirming residents’ access to cryptocurrency investments.
Gov. Mike Braun is expected to sign HB 1042 into law within the next 10 days.
Indiana joins at least seven states, including Wyoming, Wisconsin, Michigan and Arizona, that have included cryptocurrency products in their public investment frameworks.
Nearly half of U.S. state governments are either putting some money into cryptocurrencies or have already done so, a trend that has largely been developing since President Donald Trump directed his administration to build a strategic reserve of Bitcoin.
A total of 21 states are investing in or evaluating investments in digital assets, primarily Bitcoin In some cases, it’s stablecoins pegged to the U.S. dollar, according to CoinDesk’s analysis. States such as Arizona, Tennessee, Oklahoma and Nebraska have signed legislation to open up certain public funds to the purchase of cryptocurrencies, in line with Trump’s pledge to make the United States the “cryptocurrency capital of the world.”
The Indiana Legislature passed another cryptocurrency-related measure on Tuesday, banning the operation of virtual currency kiosks, commonly known as cryptocurrency ATMs, across the state. Violations under the Deceptive Consumer Sales Act are subject to enforcement by the state Attorney General.
The bill comes after state and local law enforcement warned of rising fraud related to cryptocurrency ATMs. In Evansville, Indiana, authorities reported that residents lost approximately $400,000 to kiosk-related scams in 2025.
The Massachusetts Attorney General has filed a lawsuit against ATM operator Bitcoin Depot, accusing them of allowing criminals to use its machines to defraud users. The FBI estimates that Americans lost $240 million to crypto ATM fraud in the first half of 2025, with nearly 11,000 ATM fraud complaints received in 2024, a 99% increase from the previous year.
