Joseon Treasury Act of 2023

By the grace of God and the goodwill of the people of Joseon and the King, let it be enacted as follows:

 

1. General Provisions
   1. This Act establishes the Joseon Treasury ("Treasury") under the authority of the Ministry of Finance.
   2. The Treasury is responsible for managing the financial resources and monetary policy of Joseon to ensure the stability and prosperity of the nation.
2. Governance and Structure
   1. The Treasury shall be governed by a Decentralized Autonomous Organization (DAO), which is a smart contract on the Joseon Blockchain.
   2. The Treasury DAO shall consist of four members: the King of Joseon, the Minister of Finance, the Minister of Technology, and one other Minister appointed by the King.
   3. The King of Joseon shall hold 51% of the voting power in the Treasury DAO, while the remaining voting power shall be divided evenly among the other three members.
   4. Decisions made by the Treasury DAO shall be based on a majority vote.
3. Functions and Responsibilities
   1. The Treasury is responsible for formulating and implementing monetary policy in accordance with the economic goals of Joseon, which may include managing inflation, promoting economic growth, and maintaining financial stability.
   2. The Treasury shall manage the issuance, circulation, and regulation of the national fiat currency, Mun, as well as any other forms of currency as authorized by law.
   3. The Treasury is responsible for managing the fiscal policy of Joseon, which includes collecting taxes, controlling public expenditure, and managing government debt.
   4. The Treasury shall oversee the management of the nation's foreign exchange reserves and ensure the stability of the Mun in international markets.
   5. The Treasury is responsible for regulating and supervising the financial sector in Joseon, in coordination with other relevant government agencies and regulatory bodies.
   6. The Treasury shall maintain a transparent and accountable financial management system, ensuring that public funds are used efficiently and responsibly.
4. Reporting and Accountability
   1. The Treasury shall periodically publish reports on its activities, financial position, and economic outlook for Joseon, in order to promote transparency and public confidence in the nation's financial system.
   2. The Treasury shall be subject to regular audits and oversight by an independent auditor appointed by the King, in order to ensure the integrity and effectiveness of its operations.
   3. The Treasury shall cooperate with other domestic and international authorities, as necessary, to promote the stability and integrity of the global financial system.
5. Amendments
   1. This Act may be amended by the Council of Dignitaries, Elders, and Revisionists (CODERS) in accordance with the established legislative processes, and with the approval of the King.
   2. This Act shall come into force on the date of its enactment and shall apply to all activities related to the management of Joseon's financial resources and monetary policy from that date forward.