While digital gold currency has been widely used for some years already Indiana will be the first to promote the bill that would allow the state to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent in payable and receivable transactions with the state. The bill was officially filed by State Senator Greg Walker of District 41, (R-Columbus).

The new law known as the Indiana Honest Money Act is said to be voluntary for citizens, but mandatory for certain, specialized businesses. The act will allow Indiana to fund the Treasury with enough assets insuring that no current state funds will need to be earmarked. The Senate bill 453 does not represent a replacement for Federal Reserve Notes, but it is more of a competing, Constitutional currency and an insurance policy for our current, tenuous "money" system.

The text of the bill is based on the same draft law passed back in 2003 and 2005 in New Hampshire. Jerry Titus of Kokomo, a Senior Field Service Engineer, worked to take New Hampshire's Constitutionally compliant wording of the Bill, and adapted it for Indiana's unique purposes. The S.B. 453 is yet to be approved by the Tax and Fiscal Committee for House consideration, etc., and will probably be subject to debate and possible amendments

Source: Midas Letter