: money (such as paper currency) not convertible into coin or specie of equivalent value
Example Sentences
Recent Examples on the WebPro-climate monetary policies need to involve fiat money, meaning money created by central banks, and/or authorized by legislatures. Christian Holub, EW.com, 20 June 2022 Central banks, on the other hand, own fiat money and can make exceptions by printing more. Rufas Kamau, Forbes, 12 Apr. 2022 In fiat money terms, crypto’s total value has plummeted by 56%, or $1.6 trillion, since November. Greg Ip, WSJ, 18 May 2022 Since then, the dollar has been fiat money, backed only by faith in the U.S. Roger Lowenstein, WSJ, 4 Mar. 2022 It was originally developed as an alternative to fiat money. Greg Khojikian, Forbes, 7 Mar. 2022 Cryptocurrencies are very different from hard currencies backed by central banks, like the U.S. dollar, which are known as fiat money and have been made legal tender by government decree. Tristan Bove, Fortune, 7 Feb. 2022 For now, the main utility of cryptocurrency is still as something to be exchanged for fiat money. Tristan Bove, Fortune, 7 Feb. 2022 The process involves purchasing a cryptocurrency with fiat money. Chris Smith, BGR, 19 Jan. 2022 See More