Alice-Mary Higgins (Independent) | Oireachtas source

As I will not be able to speak on the other amendments in this group after I make my decision on No. 61, I would like to respond quickly to the Minister of State, if I may. I accept the point he makes in respect of amendment No. 63. His analysis is fair and I realised that as he spoke. The thrust of the other amendments was about trying not to erode the independence of the commission but to preserve it. Many of these amendments were taken from legislation in respect of IHREC, in terms of the idea of having a separate strand. The goal had been to ensure independence from the Government rather than the contrary but I accept that they may need revision.

I intend to return to amendment No. 61 because we are entering an era of digital currency. We may well be in a period of time where there is much more digital use of existing currencies and transfers. To be frank, coming from an environmental and energy perspective, we simply cannot ignore this. We have seen the impacts of cryptocurrency in places like Kazakhstan. Ireland is gearing up to have large-scale data centres. I know from sitting on the Joint Oireachtas Committees on Finance, and Environment and Climate Action that there are those who would like to see Ireland becoming a hub in respect of things like cryptocurrencies but that comes with extraordinary levels of risk. In that context, I reserve the right to submit amendments on Report Stage in respect of the engagement that the commission may have with cryptocurrencies because this is an area in which we need to be very vigilant and take our responsibilities as regulators and leaders very seriously. However, I will not press amendment No. 61 at this time.