The proposed bill, known as the Cryptocurrency Public Protection Act, aims to establish regulatory measures to protect Vermonters from potential risks associated with cryptocurrency transactions and mining facilities. Key provisions include a prohibition on investments in cryptocurrency by state pension funds and other state funds, with a requirement for a divestment plan if any holdings are found by July 1, 2025. Additionally, the Vermont Pension Investment Commission, in consultation with the State Treasurer, is tasked with ensuring that state retirement systems do not invest in cryptocurrency. The bill also mandates the Commissioner of Financial Regulation to develop a regulatory framework to prevent fraud and theft related to cryptocurrency.

Furthermore, the Public Utility Commission is directed to investigate the siting of cryptocurrency mining facilities in Vermont, focusing on compliance with environmental policies and the establishment of utility rates specific to these facilities to avoid burdening other ratepayers. The findings from this investigation, along with the regulatory framework, are to be submitted to relevant legislative committees by November 15, 2025. The act is set to take effect on July 1, 2025.