Free E-Cash

[jya@pipeline.com (John Young)]

   WSJ, September 20, 1996, p. A16. 
 
 
   Fed Chief to U.S: Back Off On Electronic-Cash Rules 
 
 
   Washington -- Regulators should stay out of the way and let 
   the market for electronic money develop without government 
   meddling, said Alan Greenspan, chairman of the Federal 
   Reserve Board. 
 
   "The private sector will need the freedom to experiment 
   without broad interference from the government," he told a 
   government conference on electronic cash yesterday. Too 
   much interference could impede innovation, he said. 
 
   Bank debit cards, along with other forms of electronic 
   payments, "account for a very small percentage of 
   transactions," he said. "Even the use of popular credit 
   cards has only recently begun to challenge paper's 
   dominance." 
 
   [End]