EFTA02008704.pdf

To: 'eevacation mail.comueevacation©gmail.com]: Jeffrey [email protected]] From: Sent Tue 9/25/2012 4:15:08 PM Subject: Fwd: [Dewayne-Net] A New Issue For Bitcoin: Crypto Key Disclosure FYI Typos, misspellings courtesy of iPhone word & thought substitution. Begin forwarded message: From: Dewayne Hendricks Date: September 25, 2012 3:58:27 AM PDT To: Multiple recipients of Dewayne-Net Subject: IDewayne-Netj A New Issue For Bitcoin: Crypto Key Disclosure Reply-To: A New Issue For Bitcoin: Crypto Key Disclosure from the not-so-secret dept By Glyn Moody Sept 24, 2012 <http://www.techdirt.com/articles/20I 20919/07064320429/new-issue-bitcoin-crypto-key- disclosure.shtml> The debate is still raging whether Bitcoin is a brilliant idea that will revolutionize business and society, a high-tech money laundering scheme, or just a fad that will soon pass into history. But in a fascinating post, Jon Matonis points to a problem that doesn't really seem to have been considered before: Key disclosure laws may become the most important government tool in asset seizures and the war on money laundering. When charged with a criminal offense, that refers to the ability of the government to demand that you surrender your private encryption keys that decrypt your data. If your data is currency such as access control to various amounts of bitcoin on the block chain, then you have surrendered your financial transaction history and potentially the value itself. That's no mere theoretical issue in countries like Australia, South Africa and the UK that already have such key disclosure laws. Matonis reviews the limited US case law here, and concludes: [snip] Dewayne-Net RSS Feed: <http://www.warosoccd.comiwordpress> EFTA_R1_00509238 EFTA02008704