Similarly, Id want a proof-checked VM for the currency, which ETH is pretty far from supporting.
So verified-ETH would be a larger, more bug-prone project than starting from first principles, developing a language and VM in parallel. (Also, starting a new project gives a chance to change the economics and/or technology used; depending on your views, this might be a benefit.)
https://medium.com/@pirapira/ethereum-virtual-machine-for-co...
I either missed it or it didn't exist last time I looked in to ETH. (About a year ago, pre-DAO.)
Either way, this is a major component of what I'd like to see in smart contracts! (The other two major pieces being a verified VM that supports that spec, and a developer library of "standard" contract pieces -- I don't recall being impressed by directly coding for the EVM, and easy-to-use contracts require a library of "standard legalese".)
Glad to see ETH is putting in the effort.
My priority is on keeping the formal definition in sync with the Yellow Paper and the implementations.