The first research project that GBA is launching is focused on examining the state of cryptocurrency adoption and the impact it has on governments and financial systems. This research is premised on two fundamental questions. They are:
- If the adoption of peer-to-peer cryptocurrencies have grown in ten years from zero to hundreds of billions of dollars in market cap, what is the future of the adoption curve and
- If mass adoption of peer-to-peer cryptocurrencies (including privacy coins) happens, how are governments impacted in terms of taxation and their ability to govern?
By looking at public sources of data that describe the Fiat Leak (value moving from fiat currencies into the crypto economy), Cryptocurrency ATM deployment and surveys, it becomes clear that the adoption of cryptocurrency continues to climb over the past decade. How this will impact the fiat financial system is not so clear.
The GBA is extremely fortunate that Ksenija Cipek is leading this project. Ksenija is an international tax expert, lawmaker, and project leader at the Ministry of Finance of the Republic of Croatia. She recently addressed hundreds of leaders from around the world at the United States Capitol during the international conference on the Future of Money, Governance, and the Law. She also leads the GBA Taxation & Revenue Collection Working Group. She will be coordinating with other GBA Working Groups and the GBA Government Advisory Board led by Sandy Barsky and the GBA Corporate Advisory Board led By Dr. Ann Ingraham.
To participate in this project, GBA members should join the GBA Taxation & Revenue Collection Working Group. Non-GBA members can stay informed about the results of the study by joining GBA (free for all civil servants) or by subscribing to the GBA Newsletter.