Later, they additionally offered "CyberCoin," a micropayment system modeled after the NetBill research project at Carnegie Mellon University, which they later licensed.
[citation needed] At the time, the U.S. government had a short-lived restriction on the export of cryptography, making it illegal to provide encryption technology outside the United States.
CyberCash obtained an exemption from the Department of State, which concluded that it would be easier to create encryption technology from scratch than to extract it out of Cyber-Cash's software.
[8][9] On January 1, 2000, many users of CyberCash's ICVerify application fell victim to the Y2K Bug, causing double recording of credit card payments through their system.
On November 21, 2005 PayPal (already an eBay company) acquired VeriSign's payment services, including Cybercash.