Expand Protection for Crypto: Why Indiana Should Not Only Choose Bitcoin

According to the TechFlow report from December 21, based on the Decrypt article, Indiana legislator Representative Kyle Pierce is sending a clear message—cryptocurrency law provisions should support the entire industry, not just Bitcoin and other major assets.

In his crypto bill introduced this month, Pierce developed a comprehensive framework aimed at avoiding the “picking winners and losers” in legislation. Its main strategy is not to set a specific market cap threshold, which is in clear contrast to approaches by other states like New Hampshire with $500 billions market cap limit.

Aiming to Strengthen the Entire Ecosystem

Pierce emphasized that while Bitcoin leads the crypto revolution, modern laws should provide equal opportunities for Ethereum, Tether, and other emerging tokens. The wide-ranging provisions being drafted aim to make the legal framework inclusive, fostering innovation and sustainable growth across the sector.

Details of Provisions for Miners and Investments

The proposal includes special protections for mining operators, ensuring that the state government cannot implement targeted restrictions against mining activities. On the other hand, Pierce has designated new tokens as unsuitable for public servants’ retirement investments, a scope that will be addressed in upcoming legislative hearings.

This approach reflects Pierce’s understanding of the complexity of the crypto market and the need for nuanced, future-proof legislation that keeps pace with technological and market developments.