Would this be legal?
Probably at this scale. Not necessarily extrapolated to a large commercial operation involving more parties.
At some point it becomes a payment system and a financial enterprise that becomes subject to financial regulation.
Could her transfer be viewed as a donation as well?
This is not a donation transaction and efforts to characterize ...
With a legal contract in both countries,
listing the purpose (transfer of funds) and accounts being used ;
togeather with a tax consultant (Steuerberater) protocoling the money transfers ;
who would satisfy queries from the banks (that it is not money laundering) and tax authorities (that it is not income)
would probably be doable since it would then be ...
Chaum's system takes a centralised approach and his papers refer to the central entity (that takes deposits and provides cash) as a 'bank'.
I don't know if it would be considered a bank in every or any jurisdiction. PayPal wasn't considered a bank by some jurisdictions. In 2007 Luxembourg gave PayPal Europe a banking licence and it then became subject to ...