Icelandic Parliament Committee Holds Session to Discuss Auroracoin

Iceland's Parliamentary Economic Affairs and Trade Committee held a formal discussion regarding auroracoin in closed meeting on 14th March.

Auroracoin is a digital currency based on the litecoin source code, and a portion of it will be provided for free to Icelandic citizens.

"The Committee did not reach out to the auroracoin community or anyone involved in cryptocurrencies to my knowledge."

An English translation of the article is available on the auroracoin forums.

On Sigurjónsson's website, he has a short blog post on auroracoin suggesting that the coin is a scam.

Auroracoin was created as decentralized digital currency for the people of Iceland.

The purpose of giving premined auroracoin to Icelanders in particular is to build a community around the coin.

Fifty percent of the auroracoin's 10,619,651 units circulation is reserved for the Icelandic community.

Circulation might be more important than price for auroracoin to remain strong.

At a current supply of just over 10 million, auroracoin still has a lot more coins to be mined.