Indiana lawmakers have advanced House Bill 1042, which would allow public employees to invest in cryptocurrency exchange-traded funds (ETFs) within state-managed retirement plans. The bill, passed by a Senate committee, excludes stablecoin funds and focuses on regulated crypto products, aiming to expand retirement investment options while maintaining state oversight. The proposal, set to be discussed and voted on by the full Senate, would enable employees to open self-directed brokerage accounts from July 1, allowing them to invest in approved crypto products. The Indiana Public Retirement System, overseeing $55 billion in assets, would continue to supervise the broader system, ensuring compliance and reporting standards. The bill also seeks to establish consistent crypto regulations across Indiana, preventing local governments from banning legal crypto activities.