Fiat money is that which is backed by a government, instead of a physical item or financial instrument (most currencies around the world are fiat money).
Griffiths also pointed to the government’s stance on crypto.
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“We’re also fostering innovation by making the UK a safe jurisdiction for cryptoasset activity,” he said, mentioning the consultation released earlier this year regarding tokenisation and leger technology."
sally.hickey@ft.com
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