From: Jyri Kaljundi <jk@digit.ee>
Date: Thu, 4 Jan 1996 03:11:29 +0800
To: cypherpunks@toad.com
Subject: Re: Starting an e-cash bank
In-Reply-To: <199512302305.SAA20998@netaxs.com>
Message-ID: <Pine.SOL.3.91.960103204303.5486B-100000@jaramillo.digit.ee>
MIME-Version: 1.0
Content-Type: text/plain


On Sat, 30 Dec 1995, Ryan Lackey wrote:

> What would it take to start an anonymous, private, secure, etc. etc. bank
> issuing e-cash, located in a country without taxes/etc.? 

I think this idea of a new e-cash bank or other kind of financial 
institution sounds very good. I have been thinking of the same thing here 
in Estonia, to set up a financial institution issuing e-cash for people 
here, but I think this would not in any way be an easy task. I am not 
very familiar with local legislation about financial and credit 
institutions, but I know that at least for banks the minimum equity 
capital or what you call it must be 50 million Estonian kroons (4 million 
US dollars). But I still think that for issuing e-cash and opening e-cash 
accounts you might not need to have such kind of capital. What does it 
take to be called a bank?

And how easy is it to start a bank in some caribbean country or similar 
tax haven? What are the minimum requirements?

Juri Kaljundi
jk@digit.ee
Digiturg http://www.digit.ee/