Indiana, USA, pushes bill to allow public funds to invest in Bitcoin

Source: DigitalToday Original Title: Indiana, US, Pushes Bill to Allow Public Funds to Invest in Bitcoin Original Link:

Lawmakers in Indiana, US, have introduced a bill that would allow public funds across the state to invest in Bitcoin(BTC).

According to blockchain media, House Representative Kyle Pierce is leading “House Bill 1042,” which stipulates that statewide public pension and savings programs can include cryptocurrency ETFs in their investment portfolios. The bill is currently pending before the House Financial Institutions Committee.

The bill allows major public funds, such as public employee retirement funds, judicial and prosecutorial pensions, and law enforcement pensions, to allocate assets to cryptocurrency ETFs. It also grants certain trust and benefit funds the authority to invest in stablecoin ETFs. Additionally, it establishes a consistent statewide approach to the use of digital assets and prohibits local governments from restricting digital asset holdings or discriminatorily regulating cryptocurrency mining.

This bill comes amid a trend of several US states expanding Bitcoin investments. Last year, Arizona considered allowing public pensions to invest in Bitcoin ETFs, while Pennsylvania and Florida each pushed bills to invest 10% of public assets in Bitcoin. New Hampshire has already allowed 5% of state funds to be invested in digital assets, and Texas approved a $10 million strategic Bitcoin reserve and invested $5 million in the BlackRock Bitcoin ETF.