ECOFIN

Economic & Financial Committee

 
 

Cryptocurrency is…

A newly emerging form of global currency. It evades government regulation and its technological and ethical implications are often poorly understood, particularly by the general public. While cryptocurrency allows its users privacy and security, those features can be abused for nefarious affairs. Intrinsic to the debate are the blockchain ledger, decentralization, vulnerabilities to attack, the effects of bitcoin mining, and the understanding of various forms of cryptocurrency and their applications.

The mandate of this committee is for states to address the global effects of cryptocurrency and formulate effective responses to address the economic and security concerns which arise from the proliferation of cryptocurrencies.