Definition ∞ Non-sovereign money refers to forms of currency that are not issued or controlled by a national government or central bank. Cryptocurrencies like Bitcoin exemplify this concept, deriving their value and governance from decentralized networks and cryptographic principles. These assets operate outside traditional state-backed monetary systems.
Context ∞ The emergence of non-sovereign money is a central theme in discussions about the future of finance and monetary policy. News often contrasts these digital assets with fiat currencies and central bank digital currencies, highlighting their potential as alternatives for payments or stores of value. Regulatory bodies worldwide are grappling with how to classify and oversee these independent monetary forms.
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