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 cryptocurrency 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 taken steps to integrate crypto-linked products into public investment frameworks.
Nearly half of US state governments are on track to invest some of their money in cryptocurrencies or have already done so, and much of this trend has developed since President Donald Trump ordered his administration to establish a Bitcoin Strategic Reserve.
A total of 21 states are investing or evaluating investments in digital assets, mainly bitcoin and, in some cases, dollar-pegged stablecoins, according to CoinDesk analysis. States such as Arizona, Tennessee, Oklahoma and Nebraska have signed laws opening certain public funds to the purchase of cryptocurrencies, aligning with Trump’s promise to make the United States the “cryptocurrency capital of the world.”
The Indiana legislature on Tuesday passed another cryptocurrency-related measure 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 consumer deceptive sales laws.
The bill follows warnings from state and local authorities about rising fraud linked to crypto ATMs. In Evansville, Indiana, authorities reported that residents lost approximately $400,000 in kiosk-related scams in 2025.
The Massachusetts Attorney General 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 crypto ATM fraud and that it received nearly 11,000 ATM fraud complaints in 2024, a 99% increase from the previous year.
