The Economic and Financial Committee ( ECOFIN ) | Intermediate

What is ECOFIN?

The Economic and Financial Committee is the Second Committee of the General Assembly. ECOFIN deals with issues regarding economic growth and development such as macroeconomic policy questions, financing for development, sustainable development, human settlements, globalization and interdependence, eradication of poverty, operational activities for development, agriculture development, food security and nutrition, information and communications technologies for development, and towards global partnerships. ECOFIN also considers issues relating to groups of countries in special situations. Thus, it will also consider the item on permanent sovereignty of the Palestinian people in the Occupied Palestinian Territory, including East Jerusalem, and of the Arab population in the occupied Syrian Golan over their natural resources.

Crypto legislation

Unlike bills and coins, digital currencies are not backed by governments or any other central bank. Instead, they are used for electronic transactions. Cryptocurrency is more prevalent today than ever, and the increased use of cryptocurrency poses a threat if unregulated. The cryptocurrency laws currently vary significantly between countries, and as more and more people continue to use cryptocurrency, these laws are subject to change with greater use of cryptocurrency.

Country List

United Kingdom, United States of Americ, Germany, China, Russian Federation, France, Japan, Brazil, Italy, India, Saudi Arabia, United Arab Emirates, Mexico, Turkey, Sweden, Iran, Nigeria, Egypt, Singapore, New Zealand, Canada, The Republic of Korea

Download the ECOFIN study guide to learn more about the committee and its topic.

Click below to download the ECOFIN study guide:

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