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IMF: Regulating Cryptocurrency

INTERMEDIATE COMMITTEE

Cryptocurrency is a digital medium of exchange that focuses on cryptography, a method of making messages intelligible and secure, to conduct financial transactions and verify asset transfer. Unbaked by a tangible coin or physical currency, the price of cryptocurrency is determined by demand, worth what users are willing to pay in a particular moment and bought and sold like stocks. This makes the currency highly volatile and susceptible to price variation.  Furthermore, criminals can utilize the anonymity provided to launder money, evade taxes, and commit other financial crimes. Autonomous and independent from politics and government bodies, cryptocurrency has no institution to hold it accountable in the event it breaks legislation. Is the ease of anonymity a means of economic progress? What methods of regulation can be implemented into cryptocurrency? And, with some states opting for the illegalization of cryptocurrencies, what does the future entail?

BACKGROUND GUIDE

Background Guide and
More Information Coming Soon!

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