Major Spanish bank Santander has denied reports of blocking United Kingdom customers from funding their Coinbase accounts.
Fiat Money News
Fiat money is an assent without intrinsic value that is established as money by government regulation. Fiat money is worth something only while the government maintains it. Monetary economists define fiat money as an intrinsically-valueless object that is widely accepted as a means of payment. Fiat money is mostly under the jurisdiction of central banks that are the issuers of new currency while also being its main regulator. Fiat money is not necessarily a physical asset. Today most of the value of fiat money is stored in digital form. The supply of fiat currency is one of the most important macroeconomic tools for monetary authorities to manage inflation, stimulate intensive economic growth, and reduce unemployment. The purchasing power of fiat money is glued to the state’s authority and any damage to that authority leads to a decrease of fiat money’s value and results in inflation.
- Bakkt Announces Sept. 23 Launch of Futures and Custody Platform in US
- Chainzilla and Pundi X to Enable Retail Bitcoin Payments in Panama
- Mike Tyson: ‘I Am Not Involved With Fight to Fame or Their Countdown Website’
- Reconciling Blockchain Technology With California Consumer Privacy Act
- Crypto Markets Descending, With Bitcoin Price Sinking Below $10,200