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It is ultimately up to the legislator

To summarise, find out if the Central Bank Act already has the mandate to issue a Central Bank Digital Currency (CBDC). It is nevertheless reasonable to consider getting clearer legislation reviews as to regards the Central Bank’s mandate and scope for issuing account-based and Value-based digital currencies is within the Central Bank Act. This assessment should therefore clearly state that the Central bank may receive deposits from both banks and the general public in the case that the Central bank chooses to implement an account-based CBDC and that such deposits may be received even if their purpose does not concern monetary policy.

It is ultimately up to the legislator to decide whether the Central bank shall have room for maneuver, and a future option, to issue an account-based CBDC. In this context, one should consider and investigate whether the central bank digital currency should have the status of legal tender.

Investigation in the legislation concerning the central bank digital currency (CBDC) should be done and thereby putting forward proposals for legal amendments that are in line with what the central bank wants to develop. This could be done during the development phase of the pilot project when the Central Bank (CBCS) has a clear overview of the scope of the project and the CBDC they want to create. The Central bank can consider submitting a proposal to the parliament with a request for the necessary legislative amendments during the platform construction phase.

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User Agreement

This is an agreement between the iSETTLE.ORG protector Foundation ( LEOPOLD VON GULLIOU FAMILY FOUNDATION ) a Private Interest Foundation (PIF) Recorded at the public registry office, at data card 22904, since March 19th, 2007, in the section of Private Interest Foundation. Apostille (The Hague Convention of October 5, 1961) certified in the Ministery of Foreign Affairs on March 23rd, 2007. Under Number: 133745/A  ( “iSETTLE.ORG”, “we”, “us”, or “our”) and you (together with iSETTLE.ORG, the “Parties” and each a “Party”). By using any iSETTLE.ORG service, whether through isettle.org, any associated website, API, or mobile application, you agree that you have read, understood, and accept all of the terms and conditions contained herein (the “User Agreement”), as well as our Privacy Policy.

Jurisdiction and choice-of-law
We operate this Website from Panama, while third part providers and voluntary organizations provide tech for convenience only. We make no representations that the materials in this site are appropriate or available for use in other locations, nor represented by any third party other than the protector Foundation. Those who choose to access this Website from other locations do so at their own risk and are responsible for compliance with any and all local laws, if and to the extent local laws are applicable.

This agreement, and any dispute, which arises from and out of this Website, shall be construed with the laws of Panama.

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1.2 Modification

1.2.1 We may change the terms of this User Agreement at any time. Any such changes shall take effect when posted on the iSettle.org Site, or when you use the Services. If you have supplied us with an email address, we shall also attempt to notify you by email of changes to this User Agreement.

1.2.2 It is your responsibility to update your contact information, including but not limited to the email address provided to us (if any).

1.2.3 Read the User Agreement carefully on each occasion you use the Services. Your continued use of the Services shall signify your acceptance to be bound by the current User Agreement. Our failure or delay in enforcing or partially enforcing any provision of this User Agreement shall not be construed as a waiver of any of our rights.

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Privacy Policy

Protection infromation. Privacy is of utmost importance at the iSETTLE.ORG Private Interest Foundation (PIS) and group of companies (“iSETLLE.ORG”). We recognise the significance of protecting information which is stored on our servers or network or is intended to be stored on our servers or network and which relates to an individual, organization, or Company. The data we protect are the “Personal Data” which is any information relating to an identified or identifiable natural person, sometimes called a data subject, and have made protecting the privacy and the confidentiality of Personal Data a fundamental component of the way we operate. This Privacy Policy informs you of the ways we work to ensure privacy and the confidentiality of Personal Data and describes the information we gather, how we use those Personal Data and the circumstances under which we disclose such information to third-parties.

This Privacy Policy is designed to address regulatory requirements of the jurisdictions in which iSETTLE.ORG (Foundation) is registered. In this Privacy Policy, the term “Service” and “Services” has the same meaning as described in the User Agreement, but excludes API services, which are governed by a separate agreement. If you do not agree with this Privacy Policy, in general, or any part of it, you should not use the Services. This Privacy Policy is periodically reviewed to ensure that any new obligations and changes to our business model are taken into consideration. We may amend this Privacy Policy at any time by posting an amended version on our website.