Assuming it were possible to create digital “bit-coin like” receipts which would entitle the bearer to title to gold held in a private depository issuing such receipts, does anyone know if such a program would violate any US laws?
There are many gold vaults out there, such as GoldMoney or BullionVault, etc., and the thought has occurred to me how convenient it would be if they would issue a bit-coin-receipt to a depositor which would be “redeemable on demand” of whomever the hold happened to be, and thus be transferrable.
Anyone know of any experts in U.S. law who might be able to weigh in on this?