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Second expert group meeting on opportunities and risks associated with the advent of digital currency in the Caribbean

12 de março de 2015|Evento

The purpose of the meeting was to review the study on the associated risks and potential benefits of digital currency adoption in the Caribbean region.

This expert group meeting continued the work of the first such meeting held to review a study on the “Opportunities and risks associated with the advent of digital currency in the Caribbean.” During the meeting, it was agreed that the purpose of the study should be to promote discussion on issues regarding digital currency by policymakers in the Caribbean, so that they might be encouraged to deal with the spread of this technology in a timely and effective manner. The study therefore should provide readers with a broad, basic understanding of digital currencies, with references to further resources for more in-depth insight on specific questions. Further, it should analyze areas of opportunity and risk in light of the unique characteristics of the Caribbean region.

1. Opening remarks and introduction

2. Overview of digital currency technology

3. Discussion of the current state of digital currency in the Caribbean region

4. Discussion of international approaches to the regulation of digital currency

5. Discussion of mobile money

6. Review of the draft report’s conclusions and recommendations

7. Conclusion of the meeting

Practical information

The meeting was attended by representatives from the Office of Legal Reform of the Ministry of Justice in Jamaica, the Office of the Prime Minister in Trinidad and Tobago, a digital currency exchange company, a Bitcoin Automatic Teller Machine (ATM) company, an e-commerce company in Trinidad 2 and Tobago, and a software company located in Turks and Caicos. The ECLAC consultant responsible for drafting the study under review was also present.