§ 2571.
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/vt/title-8/chapter-79/2571A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 2571. Definitions
As used in this subchapter:
(1)“Blockchain” has the same meaning as in 12 V.S.A. § 1913(a)(1).
(2)“Blockchain analytics” means a software service that uses data from various virtual currencies and their applicable blockchains to provide a risk rating specific to digital wallet addresses from users of virtual-currency kiosks.
(3)“Digital wallet” means hardware or software that enables individuals to store and use virtual currency.
(4)“Digital wallet address” means an alphanumeric identifier representing a destination on a blockchain for a virtual currency transfer that is associated with a digital wallet.
(5)“Exchange,” used as a verb, means to assume or exercise control of virtual currency from or on behalf of a person, including momentarily, to buy, sell, trade, or convert:
(A)virtual currency for money, monetary value, bank credit, or one or more forms of virtual currency, or other consideration; or
(B)money, monetary value, bank credit, or other consideration for one or more forms of virtual currency.
(6)“Existing customer” means a consumer who:
(A)is engaging in a transaction at a virtual-currency kiosk in Vermont; and
(B)whose first transaction with the virtual-currency kiosk operator occurred more than 30 days prior.
(7)“New customer” means a consumer who:
(A)is engaging in a transaction at a virtual-currency kiosk in Vermont; and
(B)whose first transaction with the virtual-currency kiosk operator occurred not more than 30 days prior.
(8)“Transfer” means to assume or exercise control of virtual currency from or on behalf of a person and to:
(A)credit the virtual currency to the account or digital wallet of another person;
(B)move the virtual currency from one account or digital wallet of a person to another account or digital wallet of the same person; or
(C)relinquish or transfer control or ownership of virtual currency to another person, digital wallet, distributed ledger address, or smart contract. (Added 2023, No. 110 (Adj. Sess.), § 48, eff. July 1, 2024; amended 2025, No. 23, § 22, eff. July 1, 2025.)