Indiana Lawmaker Advocates for Inclusive Crypto Legislation
Indiana State Representative Kyle Pierce is pushing for cryptocurrency legislation that doesn't play favorites. In a recent interview, the Republican lawmaker emphasized that his proposed bill is intentionally broad to avoid "choosing winners and losers" in the digital asset space.
Broad Approach to Crypto Regulation
Pierce's legislation, introduced earlier this month, focuses on Indiana's treatment of cryptocurrency with a principle of inclusivity. "My goal is to promote the cryptocurrency market, not Bitcoin, Ethereum, Tether, or whatever it may be," Pierce told Decrypt.
Unlike some state-level crypto bills that include market-cap thresholds (like New Hampshire's $500 billion requirement that only Bitcoin currently meets), Pierce's bill doesn't set such limitations. While he acknowledged that not all cryptocurrencies might be suitable for retirement investments, he believes legislation should support the broader ecosystem.
Key Provisions of the Bill
The proposed legislation includes several important components:
- Allowing public retirement and savings programs to invest in cryptocurrency ETFs
- Establishing protections for crypto users and firms
- Preventing Indiana from targeting cryptocurrency miners with negative government actions
Protecting Crypto Miners
Pierce's bill specifically addresses cryptocurrency mining operations, which consume significant energy to secure networks like Bitcoin. "They will not get special treatment, but we're also making sure you won't be able to pinpoint them and try to focus negative government actions against them," he explained.
This protection extends to all miners, despite the energy consumption differences between proof-of-work networks like Bitcoin and more energy-efficient proof-of-stake networks like Ethereum.
Changing Political Landscape
The lawmaker noted that the political environment for crypto legislation has improved significantly since President Trump signed the GENIUS Act into law in July. "I think that there's a lot more trust," Pierce said, adding that while he doesn't want to assume his bill will pass, there hasn't been major opposition yet.
Pierce has consulted with various industry groups during the bill's development, including the Satoshi Action Fund, which accepts Bitcoin donations and claims to have helped pass crypto policy in eight states.
Looking Forward
As conversations about cryptocurrency continue with constituents, including a miner located just 10 minutes from his district's borders, Pierce remains optimistic about creating legislation that supports the entire digital asset ecosystem rather than favoring specific cryptocurrencies.
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