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Sent Tue 9/25/2012 4:15:08 PM
Subject: Fwd: [Dewayne-Net] A New Issue For Bitcoin: Crypto Key Disclosure
FYI
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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]
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