Indiana is set to allow certain retirement and savings plans to incorporate cryptocurrency investments, bolstering legal protections for the crypto industry. Governor Mike Braun signed House Bill 1042 into law, mandating that state public retirement and savings plans offer self-brokerage accounts with at least one crypto option by July 2027. This requirement impacts plans for legislators, public employees, and teachers.
The legislation also safeguards crypto users' rights, prohibiting public agencies from banning crypto payments, self-custody, or mining. It clarifies that money transmitter licenses are not needed for non-custodial transfers. Furthermore, local governments cannot impose special restrictions on crypto mining businesses.
This move aligns with broader trends, including federal efforts to increase access to alternative assets like crypto in retirement accounts. Analysts suggest even a small allocation to crypto in 401(k)s could drive significant new investment.