What Hoosier Lawmakers Are Doing About Cryptocurrencies
STATEWIDE–Nearly 30% of American adults (roughly 70 million people) own cryptocurrencies. Indiana lawmakers recently passed new laws to modernize the state’s approach to digital assets and add extra layers of protection for your investments.
House Enrolled Act 1042 bolsters Indiana’s retirement investment options by requiring self-directed brokerage accounts within defined contribution plans to offer at least one cryptocurrency investment option. The law also ensures that both people and busineses can maintain custody of their own digital wallets without unnecessary government interference.
State Representative Kyle Pierce of Anderson, Vice Chair of the House Financial Institutions Committee, said as digital assets continue to grow in popularity, these laws position Indiana to adapt to emerging financial technologies while ensuring strong consumer protections.
“More Hoosiers are investing in digital assets, and it’s important we create a framework that both protects consumers and promotes informed decision-making. These new laws expand investment opportunities while ensuring strong safeguards are up to date and in place,” said Pierce.
Another law passed during the 2026 session prohibits the operation of virtual currency kiosks in Indiana to protect you from potential fraud and abuse.
That one is known as House Enrolled Act 1116 targets and seeks to end widespread scam activity linked to virtual currency kiosks or “crypto ATMs”. It was written by State Representative Wendy McNamara (R-Evansville) says crypto ATMs resemble regular ATms and are often put next to each other in stores and gas stations. Scammers typically start with a phone call, targeting vulnerable populations like the elderly, who are then conviced to withdraw or deposit money into the machines.
“This new law prohibits cryptocurrency kiosks in the state, which are being used to scam Hoosiers. When it comes to digital assets, Indiana is leading the way in consumer protection, and these kiosks have been used for trafficking, money laundering, and fraud, often targeting vulnerable people,” said McNamara.
She says the bill also allows the attorney general’s office to take action if cryptocurrency kiosks are used in a fraudulent manner. Together, these two measures expand investment opportunities in digial assets for Hoosiers, with added safeguards to better protect against fraud and bad actors.
