[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]
Does anyone know of a law, rule, regulation, or other restriction
that would prohibit the establishment of a simple cypher based bank?
I can think of 3 basic areas that would have to be satisfied:
1. Federal law and agencies, Federal Reserve, etc..
2. State and local (California for me).
3. Internet "Appropriate Use" policy.
If the bank is operated on a not-for-profit basis --as an
experiment. Then that should satisfy the appropriate use
I could use some comments if anyone can cite specific federal or
California regulations. Please respond either to me directly,
[email protected], or to this mail list.
The cypher bank would work like this: I would publish my physical
address; and offer to accept deposits by cash, check, or what have
you. With the deposit, write on it your PGP handle. Email me your
public key corresponding to the handle on the deposit.
I will maintain a public list showing handles vs. Amount received,
in collection, and in escrow.(Set Subject = "BANK" to get the list)
Funds will be paid out based on instructions encyphered with your
Comments would be appreciated.