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Fiat currency

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Definitions Edit

A fiat currency (also called real currency, real money, and national currency) is

the coin and paper money of a country that is designated as its legal tender; circulates; and is customarily used and accepted as a medium of exchange in the issuing country.[1]
established by governments to centre an economy onto one kind of transaction medium (e.g. euro, US dollar and yen).[2]

References Edit

  1. Virtual Currencies: Key Definitions and Potential AML/CFT Risks, at 4.
  2. Virtual Currency Schemes: A Further Analysis, at 33.

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