The post Indiana Senate Committee advance bill HB1042 allowing pension funds to invest in crypto appeared on BitcoinEthereumNews.com.

Indiana Senate lawmakers are pushing House Bill 1042, which will allow specific public pension funds to invest in crypto options, including ETFs. However, the bill’s author, Rep. Kyle Pierce, R-Anderson, explained that participants in eligible pension plans do not have the option to decide how their investments are managed. Meanwhile, Tom Perkins, the investments counsel and director of investment stewardship, emphasized that it has taken extensive collaborative work with the House to reach the bill’s current form. Rep. Pierce further explained that only those with defined contribution plans would be able to take advantage of the changes.  Other key provisions of HB1042 would also block local governments, except the Indiana Department of Financial Institutions, from restricting crypto transactions for legal services, taking custody of digital wallets using specific technology, or banning the operations of a digital mining business. State agencies will not be able to stop digital mining companies, including data centers, from operating in industrial-zoned areas or prevent individual “Hoosiers” from mining crypto in their homes. Rep. Pierce says the bill needs more work over this year Rep. Kyle Pierce notes that bill HB1042 needs more work this year. He further points out a few issues to address, emphasizing that the product is not doing well so far. The Committee discussed at length another amendment that would remove some provisions, but Sen. Scott Baldwin, R-Noblesville, decided not to call it. “We’re never in the business of putting anybody out of business. That’s not our goal here, in the state of Indiana.” –Sen. Scott Baldwin, Chair Tax and Fiscal Policy, Insurance and Financial Institutions Meanwhile, Rep. Pierce emphasizes that the proposed amendments to HB1042 will offer individual choice rather than the plans in which the state handles investment decisions. However, Sen. Baldwin stressed that Indiana lawmakers would continue their discussions…

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Filed under: News - @ February 13, 2026 11:23 am