The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
012
:
BLOCKCHAIN-BASED LIMITED LIABILITY COMPANIES
(Cite as: 11 V.S.A. § 4171)
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§ 4171. Definitions
As used in this section:
(1) “Blockchain technology” has the same meaning as in 12 V.S.A. § 1913.
(2) “Participant” means:
(A) each person that has a partial or complete copy of the decentralized consensus ledger
or database utilized by the blockchain technology, or otherwise participates in the
validation processes of such ledger or database;
(B) each person in control of any digital asset native to the blockchain technology; and
(C) each person that makes a material contribution to the protocols.
(3) “Protocols” means the designated regulatory model of the software that governs the
rules, operations, and communication between nodes on the network utilized by the
participants.
(4) “Virtual currency” means a digital representation of value that:
(A) is used as a medium of exchange, unit of account, or store of value; and
(B) is not legal tender, whether or not denominated in legal tender. (Added 2017, No. 205 (Adj. Sess.), § 7.)