fiat money

American  

noun

1. paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.

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fiat money British  

noun

1. money declared by a government to be legal tender though it is not convertible into standard specie

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Etymology

Origin of fiat money

An Americanism dating back to 1870–75

Example Sentences

"No. You can use fiat money to do something good or something bad," he says.

From BBC

Other pages on his site appear to criticise "fiat money" - commonly used currencies as opposed to gold and digital tokens like Bitcoin - and usury, the charging of interest on loans.

From BBC

The pound volumes echoed similar instances of investors jumping into bitcoin when fiat money came under pressure, including in Russia and Ukraine this year.

From Reuters

Although cryptocurrencies like Bitcoin often appear similar to the fiat money we’re accustomed to, in the eyes of the IRS, the digital assets are actually property, according to this FAQ from the federal agency.

From The Verge

As a result, while cryptocurrency influencers tend to tweet frequently and may occasionally create videos on TikTok, YouTube is where the real fiat money is at.

From Seattle Times