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 divestment plan required 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 to ensure compliance with environmental policies and to establish utility rates specific to these facilities, preventing cost burdens on other ratepayers. The findings from this investigation are to be submitted to relevant legislative committees by November 15, 2025. The act is set to take effect on July 1, 2025.