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Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

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HB1217 • 2026

A BILL FOR AN ACT to amend the Indiana Code concerning financial institutions.

A BILL FOR AN ACT to amend the Indiana Code concerning financial institutions.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Representative Kyle Pierce
Last action
2026-02-19
Official status
House Bill (S)
Effective date
Not listed

Plain English Breakdown

The bill summary does not provide specific details about civil and criminal penalties or reporting requirements, which may be detailed elsewhere.

Indiana Stablecoin Regulation Act

This act regulates the issuance, sale, and supervision of stablecoins by financial institutions in Indiana.

What This Bill Does

  • Prohibits stablecoin issuers from paying interest or offering other benefits to people who hold their coins.
  • Requires that only licensed payment stablecoin issuers can issue stablecoins in Indiana starting July 1, 2028.
  • Establishes a process for the Department of Financial Institutions to license and regulate stablecoin issuers.
  • Sets reporting requirements for licensed stablecoin issuers.

Who It Names or Affects

  • Financial institutions issuing or selling payment stablecoins in Indiana
  • People who hold, use, or retain payment stablecoins

Terms To Know

Stablecoin
A type of digital currency that is designed to maintain a stable value by being tied to another asset like the U.S. dollar.
Licensed Payment Stablecoin Issuer
An entity approved by the Indiana Department of Financial Institutions to issue payment stablecoins in Indiana.

Limits and Unknowns

  • The bill does not specify what happens if a stablecoin issuer violates the rules.
  • It is unclear how this regulation will affect existing stablecoin holders and users before July 1, 2028.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HB1217.01.INTR.AMH01

Committee Introduced House Bill (H) • Representative Kyle Pierce

Filed

Plain English: This amendment adds new rules for companies that issue payment stablecoins in Indiana.

  • Adds a definition of 'payment stablecoin' to the Indiana Code.
  • Establishes requirements for entities issuing payment stablecoin in Indiana.
  • The exact details and full scope of the requirements for issuers are not specified in this amendment text.

Bill History

  1. 2026-02-19 Senate

    Committee report: do pass, adopted

  2. 2026-02-12 Senate

    Committee report: do pass adopted; reassigned to Committee on Appropriations

  3. 2026-01-26 Senate

    First reading: referred to Committee on Insurance and Financial Institutions

  4. 2026-01-21 House

    Referred to the Senate

  5. 2026-01-20 House

    Third reading: passed; Roll Call 61: yeas 67, nays 23

  6. 2026-01-20 House

    Senate sponsor: Senator Baldwin

  7. 2026-01-20 House

    Representative Judy added as coauthor

  8. 2026-01-15 House

    Second reading: ordered engrossed

  9. 2026-01-13 House

    Committee report: amend do pass, adopted

  10. 2026-01-12 House

    Representative Teshka added as coauthor

  11. 2026-01-05 House

    Authored by Representative Pierce K

  12. 2026-01-05 House

    First reading: referred to Committee on Financial Institutions

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning financial institutions.
Regulation of stablecoin.

Current Bill Text

Read the full stored bill text 
A BILL FOR AN ACT to amend the Indiana Code concerning financial institutions.

Regulation of stablecoin.

Prohibits a permitted payment stablecoin issuer or foreign payment stablecoin issuer from: (1) paying interest or any other type of yield; or (2) providing any other economic benefit; to a person in connection with the person's holding, use, or retention of a payment stablecoin. Provides that: (1) a payment stablecoin may be issued in Indiana only by a licensed payment stablecoin issuer; and (2) beginning July 1, 2028, subject to specified exceptions, a digital asset service provider may not offer or sell a payment stablecoin in Indiana that is not issued by a licensed payment stablecoin issuer. Requires the department of financial institutions (department) to: (1) administer licensure of persons to act as payment stablecoin issuers; and (2) regulate and supervise licensed payment stablecoin issuers. Establishes requirements for licensure as a payment stablecoin issuer and a process by which an applicant for licensure may appeal denial of the applicant's application. Imposes reporting requirements for licensed payment stablecoin issuers. Specifies powers of the department in regulating and supervising licensed payment stablecoin issuers. Specifies civil and criminal penalties for violations. Provides for priority of claims in an insolvency action regarding a licensed payment stablecoin issuer.