e$: Cypherpunks Sell Concepts

[hughes@ah.com (Eric Hughes)]

   >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?

Eric