DEMONETIZE
demonetize, demonetise
(verb) deprive of value for payment; “demonetize a coin”
Source: WordNet® 3.1
Etymology
Verb
demonetize (third-person singular simple present demonetizes, present participle demonetizing, simple past and past participle demonetized)
To withdraw the status of legal tender from a coin (etc.) and remove it from circulation.
To declare ineligible or worthless as a medium of exchange or as legal tender.
(Internet, transitive) To demote (published content, or its creator) so that it is no longer eligible to earn money for its publisher.
Source: Wiktionary
De*mon"e*tize (; see Monetary), v. t.
Definition: To deprive of current value; to withdraw from use, as money.
They [gold mohurs] have been completely demonetized by the [East
India] Company. R. Cobden.
Source: Webster’s Unabridged Dictionary 1913 Edition