Crypto Bills Shouldn't Be Bitcoin or Bust, Says Indiana Lawmaker
Indiana State Rep. Kyle Pierce has introduced broad cryptocurrency legislation intended to promote the overall cryptocurrency market rather than favor individual coins like Bitcoin or Ethereum. The bill would allow state public services to invest in crypto exchange-traded funds for retirement and savings programs and establish user and business protections. Unlike similar bills in other states that restrict investments to large-market-cap assets, Pierce’s proposal does not set a minimum market capitalization threshold, though he acknowledges not all cryptocurrencies are suitable for public investment. The legislation also includes non-discriminatory protections for cryptocurrency miners, ensuring they are neither singled out for negative regulatory action nor given special advantages. Pierce drew input from groups like the Satoshi Action Fund. Recent federal passage of stablecoin legislation has improved legislative receptivity, but passage of the bill is not assumed.
