ECOSOC
Theme : How should state build a framework for cryptocurrencies?
The Economic and Social Council of the United Nations plays a central role in addressing economic, humanitarian, social, and environmental topics. Since its creation in 1945, ECOSOC has always had a strong role in the UN, helping with the coordination of various UN agencies, funds, programs and promoting collaboration among different entities within the UN as well as dialogue among nations. The Economic and Social Council has an advisory role as well, providing policy recommendations to the General Assembly on international, social and environmental issues for a more equitable and prosperous world.
Cryptocurrencies are rewriting financial norms, ushering in at the same time a host of complex challenges for governments. Crafting effective regulations is proving daunting; issues encompass tax evasion, money laundering, consumer rights, market stability and even environmental concerns. As these digital assets gain ground, forging international cooperation and forward-thinking regulatory strategies becomes pivotal for harmonizing the disruptive power of cryptocurrencies with global economic order. Policymakers therefore face the urgent task of formulating adaptable frameworks that channel the potential of cryptocurrencies while taming their risks.
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