While stronger than 40-bit encryption, this still represents a relatively low level of security in the context of a brute force attack.
The US government traditionally regulated encryption for reasons of national security, law enforcement and foreign policy.
The advent of commerce on the Internet and faster computers raised concerns about the security of electronic transactions initially with 40-bit, and subsequently also with 56-bit encryption.
In February 1997, RSA Data Security ran a brute force competition with a $10,000 prize to demonstrate the weakness of 56-bit encryption; the contest was won four months later.
[3] In July 1998, a successful brute-force attack was demonstrated against 56-bit encryption with Deep Crack in just 56 hours.