Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Lawmakers pass HB 1042 allowing public funds to access bitcoin and ETFs, while banning crypto ATMs amid rising fraud concerns.
Indiana state lawmakers have enacted two laws related to cryptocurrency; one permitting crypto in public pension funds, and another prohibiting crypto ATMs. (Photo: Brijesh Reddy-Unsplash/Modified by CoinDesk)
What to know:
- Indiana legislators have sanctioned a bill that permits public retirement and savings plans to invest in digital assets and spot crypto ETFs, with Governor Mike Braun anticipated to sign it soon.
- This action positions Indiana alongside at least 21 states that are either investing in or considering bitcoin and other digital assets for public funds, reflecting former President Donald J. Trump’s initiative to increase U.S. crypto holdings.
- In a separate action, Indiana lawmakers decided to ban crypto ATMs throughout the state following reports of escalating fraud, including approximately $400,000 in related scams in Evansville in 2025.
The Indiana state legislature has authorized public retirement and savings plans to gain exposure to digital assets and spot exchange-traded funds (ETFs), while ensuring residents’ access to crypto investments.
Governor Mike Braun is expected to enact HB 1042 into law within the next ten days.
Related Posts
Indiana joins at least seven other states, such as Wyoming, Wisconsin, Michigan, and Arizona, that have taken steps to incorporate crypto-linked products into public investment systems.
Nearly half of the state governments in the U.S. are either working toward investing some of their funds into crypto or have already done so, with a significant portion of this trend emerging following President Donald Trump’s directive to create a Bitcoin Strategic Reserve.
A total of 21 states are investing in or assessing investments in digital assets, primarily bitcoin , and in some instances dollar-pegged stablecoins, as per CoinDesk analysis. States like Arizona, Tennessee, Oklahoma, and Nebraska have enacted laws enabling certain public funds to engage in cryptocurrency acquisitions, aligning with Trump’s commitment to establish the U.S. as the “crypto capital of the world.”
The Indiana legislature has passed an additional crypto-related law on Tuesday prohibiting the operation of virtual currency kiosks, commonly referred to as crypto ATMs, across the state. Violations will be subject to enforcement by the state attorney general under deceptive consumer sales regulations.
This legislation follows alerts from state and local law enforcement concerning an increase in fraud associated with crypto ATMs. In Evansville, Indiana, officials reported that in 2025, residents lost around $400,000 in scams linked to the kiosks.
The Massachusetts state Attorney General has initiated a lawsuit against ATM operator Bitcoin Depot, claiming that they permitted criminals to misuse its machines to defraud users. The FBI has estimated that in the first half of 2025, Americans lost $240 million due to crypto ATM fraud and received nearly 11,000 complaints regarding ATM fraud in 2024, marking a 99% rise compared to the previous year.
