Indiana legislation · 2026 Regular Session
Indiana HB1217: Regulation of stablecoin.
Status: In committee, February 19, 2026
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.
What the bill says
A bill FOR AN ACT to amend the Indiana Code concerning financial institutions.
From the amended text:
A BILL FOR AN ACT to amend the Indiana Code concerning financial institutions. SECTION 1. IC 28-8-7.1 IS ADDED TO THE INDIANA CODE AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2026]: Chapter 7.1. Payment of Interest or Yield on Stablecoin Sec. 1. As used in this chapter, "foreign payment stablecoin issuer" has the meaning set forth in 12 U.S.C. 5901(12). Sec. 2. As used in this chapter, "permitted payment stablecoin issuer" has the meaning set forth in 12 U.S.C. 5901(23). Sec. 3. A permitted payment stablecoin issuer, foreign payment stablecoin issuer, or person acting on behalf of a permitted payment stablecoin issuer or foreign payment stablecoin issuer may not: (1) pay to a person that holds a payment stablecoin any form or (B) yield, whether in cash, tokens, or other consideration; or EH 1217--LS 7003/DI (2) provide a person that holds a payment stablecoin an economic benefit of any kind; in connection with the person's holding, use, or retention of the payment stablecoin. SECTION 2. IC 28-16 IS ADDED TO THE INDIANA CODE AS A NEW ARTICLE TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2026]: ARTICLE 16. DIGITAL ASSETS Chapter 1. Definitions Sec. 1. The definitions and (2) 12 U.S.C. 5901; apply throughout this article. Sec. 2. "Department" means the department of financial institutions. Sec. 3. …
Sponsors
- Kyle Pierce (R, HD-036) · primary sponsor
- Jake Teshka (R, HD-007)
- Judy, Chris (R)
Latest actions
- : Committee report: do pass, adopted
- : Committee report: do pass adopted; reassigned to Committee on Appropriations
- : First reading: referred to Committee on Insurance and Financial Institutions
- : Referred to the Senate
- : Representative Judy added as coauthor
- : Senate sponsor: Senator Baldwin
- : Third reading: passed; Roll Call 61: yeas 67, nays 23
- : Second reading: ordered engrossed
- : Committee report: amend do pass, adopted
- : Representative Teshka added as coauthor
Votes
- HB1217.02.COMH (January 20, 2026): 67 yea, 23 nay, passed
Subjects: FINANCIAL SERVICES; Financial Institutions, AGENCIES; Department of Financial Institutions (DFI), FINANCIAL SERVICES; Currency, CRIMINAL LAW AND PROCEDURE; Offenses Against Property, FINANCIAL SERVICES; Investments and Securities, AGENCIES; Prosecuting Attorneys Council (IPAC), FINANCIAL SERVICES; Bankruptcy, FINANCIAL SERVICES; Fiduciaries
Common questions
- What is HB1217?
- HB1217 is a bill in the Indiana Legislature (2026 Regular Session): Regulation of stablecoin.
- What does HB1217 do?
- In its own words: A bill FOR AN ACT to amend the Indiana Code concerning financial institutions.
- What is the status of HB1217?
- In committee as of February 19, 2026. Latest action: Committee report: do pass, adopted (February 19, 2026).
- Who sponsored HB1217?
- Kyle Pierce (R, HD-036), with 2 co-sponsors.
- Where is the official record for HB1217?
- On the Indiana Legislature website: https://iga.in.gov/legislative/2026/bills/house/1217
Source: official Indiana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.