From: Hal <hfinney@shell.portal.com>
Date: Sun, 21 Aug 94 10:25:53 PDT
To: cypherpunks@toad.com
Subject: Re: e$: e-cash underwriting
In-Reply-To: <199408210219.WAA15566@zork.tiac.net>
Message-ID: <199408211725.KAA06943@jobe.shell.portal.com>
MIME-Version: 1.0
Content-Type: text/plain


rah@shipwright.com (Robert Hettinga) writes:
>While I think the technical mechanics are simple (you all seem to, anyway),
>I'd like to see what regulatory and legal roadblocks have been identified.

Come on, Bob, we've talked about a lot of problems in the last few weeks: the
prohibitions on most forms of bearer bonds; the prohibitions on banks
issuing their own currency; the stringent regulations for private scrip
circulation.  Our people who know securities law can probably list a few
more.

>The only way to find out about the *market* for the product is to test it.

OK, but also one way to find out whether it is legal or not is to test it.
If you end up in jail, I guess it wasn't legal.  Maybe that's not the
best strategy, though?

Send mail to netbank-info@agents.com for info on their non-anonymous (I
think) cash-like system.  I wonder whether they have worried about these
issues or whether they are trying out the strategy above.

Hal