Be it enacted by the General Assembly of Virginia:

1. §1. That the State Corporation Commission shall conduct a study of the effects of the growth of cryptocurrencies. In its study, the State Corporation Commission shall (i) determine whether the General Assembly should establish a system to protect the citizens of the Commonwealth from any existing or potential adverse effects from engaging in transactions involving cryptocurrencies and other digital currencies and (ii) if it determines that the establishment of such a system is appropriate, identify legislation or regulations that would establish the system. The State Corporation Commission shall complete its study and shall report its findings to the members of the General Assembly by December 1, 2018.