[46376] in Cypherpunks
Re: Starting an e-cash bank
daemon@ATHENA.MIT.EDU (Jyri Kaljundi)
Wed Jan 3 14:07:08 1996
Date: Wed, 3 Jan 1996 20:53:55 +0200 (EET)
From: Jyri Kaljundi <jk@digit.ee>
To: cypherpunks@toad.com
In-Reply-To: <199512302305.SAA20998@netaxs.com>
On Sat, 30 Dec 1995, Ryan Lackey wrote:
> What would it take to start an anonymous, private, secure, etc. etc. bank
> issuing e-cash, located in a country without taxes/etc.?
I think this idea of a new e-cash bank or other kind of financial
institution sounds very good. I have been thinking of the same thing here
in Estonia, to set up a financial institution issuing e-cash for people
here, but I think this would not in any way be an easy task. I am not
very familiar with local legislation about financial and credit
institutions, but I know that at least for banks the minimum equity
capital or what you call it must be 50 million Estonian kroons (4 million
US dollars). But I still think that for issuing e-cash and opening e-cash
accounts you might not need to have such kind of capital. What does it
take to be called a bank?
And how easy is it to start a bank in some caribbean country or similar
tax haven? What are the minimum requirements?
Juri Kaljundi
jk@digit.ee
Digiturg http://www.digit.ee/
