Having a committee decide what’s allowed is generally how law is made, and the need for such committees is that what’s good for any individual is often different for what’s good for groups of people even though the latter contains the former (tragedy of the commons, prisoner’s dilemma) so: yes.
Who gets to decide that? You see value in entertainment derived from a gaming rig, a person in Argentina sees value in mining a unit of make-believe currency which they can then sell on a speculative market. Should we form a global committee to decide on which types of computation have value, and should therefore be allowed to execute?