1994-08-07 - e$: Cypherpunks Sell Concepts

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From: hughes@ah.com (Eric Hughes)
To: cypherpunks@toad.com
Message Hash: 1387e62d0f8273821b20dc460562543239ff4b5c29924ee1dc09ef72a866f2c3
Message ID: <9408071731.AA18270@ah.com>
Reply To: <199408070251.WAA26419@zork.tiac.net>
UTC Datetime: 1994-08-07 17:59:47 UTC
Raw Date: Sun, 7 Aug 94 10:59:47 PDT

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From: hughes@ah.com (Eric Hughes)
Date: Sun, 7 Aug 94 10:59:47 PDT
To: cypherpunks@toad.com
Subject: e$: Cypherpunks Sell Concepts
In-Reply-To: <199408070251.WAA26419@zork.tiac.net>
Message-ID: <9408071731.AA18270@ah.com>
MIME-Version: 1.0
Content-Type: text/plain

   >There are two legal problems that I could see being used against digital
   >cash.  The first is the civil war era prohibition on banks issuing private
   >bank notes.

   It seems to me
   that one could just as easily treat digicash as securities denominated in
   dollars, [etc.]

It didn't occur to me before, but you could also have 'nonbank notes'.
If the issuer isn't a bank, does the regulation still apply?