Indiana State Representative Jake Teshka authored House Bill 1322, which would allow retirement funds to invest in certain Bitcoin exchange-traded funds (ETFs). The bill included public pension funds held by state officers, the state teachers’ retirement fund, and the public employees’ retirement fund. The proposal also requires the state’s administrative department to explore the application of blockchain technology to achieve cost efficiency and cost-effectiveness and how blockchain technology can improve consumer convenience, experience, data security, and data privacy. Teshka introduces bill to allow retirement funds to invest in Bitcoin ETFs BREAKING: 🇺🇸 U.S. states are moving toward Bitcoin-friendly laws and investments🔥 🇺🇸 Indiana: State Rep. Jake Teshka introduces a bill to allow retirement funds to invest in Bitcoin ETFs. 🇺🇸 Illinois: State Rep. John Cabello proposes legislation for a Strategic Bitcoin… pic.twitter.com/4scv5eQWoN — Kashif Raza (@simplykashif) January 30, 2025 Indiana’s State Representative Jake Teshka introduced the bill with Representatives Shane Linauer and Cory Criswell. House Bill 1322 aims to focus on blockchain adoption and Bitcoin investment strategies. “The department of administration (department) shall issue a request for information for purposes of exploring how the use of blockchain technology could be used by a state agency to: (1) achieve greater cost efficiency and cost effectiveness; and (2) improve consumer convenience, experience, data security, and data privacy,” – Jake Teshka, Indiana State Representative Teshka’s proposed bill will allow retirement funds to invest in Bitcoin ETFs, such as spot Bitcoin ETFs, which hold Bitcoin directly. The retirement funds would also invest in Bitcoin futures ETFs, which track Bitcoin price movements through derivatives. A report from Bitget Research revealed a significant shift in retirement planning trends among younger generations. The research found that 78% of the respondents expressed greater trust in alternative retirement savings options compared to traditional pension systems. The study also indicated that 20% of Generation Z and Alpha were open to receiving pensions in cryptocurrency, which reflected their increased trust in alternative financial systems and digital money. Arizona and Utah propose for a Strategic Bitcoin Reserve Arizona proposed the Strategic Bitcoin Reserve Act (SB 1025) , which would allow the state treasurer, the Arizona State Retirement System, and the Public Safety Personnel Retirement System to invest roughly 10% of public funds in cryptocurrencies. The bill will also require the state to securely store government Bitcoin holdings in segregated accounts to ensure responsible management of the digital assets. The proposal was co-sponsored by Republican Senator Wendy Rogers and Republican Representative Jeff Weninger and passed the Senate Finance Committee with a 5-2 vote on January 27. The bill is still awaiting approval from the Senate Rules Committee and potential amendments before heading to the House of Representatives. Weninger highlighted that more crypto-friendly initiatives were on the way. Both Rogers and Weninger also plan to propose additional blockchain-focused legislation to further shape the state’s role in the crypto economy. Dennis Porter said on Monday that he can confirm that Arizona had become the 1st state in the United States to pass out of committee a bill to create a ‘Strategic Bitcoin Reserve’. He also acknowledged that Arizona had set a precedent for other states to follow, with at least 12 other states exploring similar Bitcoin reserve bills. Utah also joined Arizona in considering crypto investment proposals and passed the bill in an 8-1 vote on January 28. The state approved the HB 230 bill on Tuesday, allowing it to invest its crypto holdings in a secure, segregated account within a potential crypto reserve launched by the U.S. Secretary of the Treasury. Porter, CEO and co-founder of the Satoshi Action Fund, said that Utah had become the second state in the nation to pass a ‘Strategic Bitcoin Reserve’ bill out of committee. Jordan Teuscher and Treasurer Marlo Oaks proposed the bill. The proposal is not yet legally binding since it has to pass through both chambers of the state legislature and also receives the governor’s approval. U.S. President Donald Trump also signed an executive order creating a new federal crypto working group. The group was charged with exploring the creation of a digital asset stockpile and making recommendations to make the country a leader in digital assets. The President also assigned crypto czar David Sacks to chair the new federal crypto working group. Cryptopolitan Academy: FREE Web3 Resume Cheat Sheet - Download Now
