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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.
|| established by governments to centre an economy onto one kind of transaction medium (e.g. euro, US dollar and yen).
- ↑ Virtual Currencies: Key Definitions and Potential AML/CFT Risks, at 4.
- ↑ Virtual Currency Schemes: A Further Analysis, at 33.