IndianaHB 1217Second Regular Session 124th General Assembly (2026)House

Regulation of stablecoin.

Sponsored By: Kyle Pierce (Republican)

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Summary

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.

financial institutionsthe senateinsurance and financial institutionsappropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Kyle Pierce

    Republican • House

Cosponsors

  • Chris Judy

    Republican • House

  • Jake Teshka

    Republican • House

  • Scott Baldwin

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 67 • No: 23

House vote • 1/20/2026

Third reading: passed

Yes: 67 • No: 23

Actions Timeline

  1. Committee report: do pass, adopted

    2/19/2026Senate
  2. Committee report: do pass adopted; reassigned to Committee on Appropriations

    2/12/2026Senate
  3. First reading: referred to Committee on Insurance and Financial Institutions

    1/26/2026Senate
  4. Referred to the Senate

    1/21/2026House
  5. Representative Judy added as coauthor

    1/20/2026House
  6. Senate sponsor: Senator Baldwin

    1/20/2026House
  7. Third reading: passed; Roll Call 61: yeas 67, nays 23

    1/20/2026House
  8. Second reading: ordered engrossed

    1/15/2026House
  9. Committee report: amend do pass, adopted

    1/13/2026House
  10. Representative Teshka added as coauthor

    1/12/2026House
  11. Authored by Representative Pierce K

    1/5/2026House
  12. First reading: referred to Committee on Financial Institutions

    1/5/2026House

Bill Text

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