Section 4

The Reserve shall have the following functions and powers –

a) to regulate the operation of the KXCO financial system and enforce the policy on Market Participants, Financial Institutions and those that interact either on KXCO chain or directly;

b) to regulate the amount of currency and interest rates, and to regulate and steer lending;

c) to serve as the financial agent for KXCO, and as depositary and agent for KXCO before international monetary, Banking and financial institutions to which KXCO has endorsed, and to play an active role in industry wide integration and cooperation;

d) to hold and administer its Crypto, Gold, Securities and Foreign Exchange reserves, and other foreign assets;

e) to contribute to the smooth functioning of KXCO capital markets;

f) to implement the foreign exchange policy in full accordance with the laws passed by KXCO;

g) to regulate, within its authority, all payment systems, clearing and settlement houses, money remittance entities, and cash-in-transit companies, and to carry out any other action related to the financial and foreign exchange industries; and

h) to provide for the protection of financial service users’ rights and of fair competition, coordinating its actions with all relevant government agencies.

In carrying out its functions and powers, the Reserve shall neither be subject to any order, indication, or instruction from the KXCO, nor may it undertake any commitment conditioning, restricting or delegating such functions and powers without the express consent of KXCO.

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