This is nothing new - Had done many times in history previously.

The Currency Act 1764 (4 Geo. 3. c. 34) extended the 1751 Act to all of the British colonies of North America. Unlike the earlier Act, this statute did not prohibit the colonies from issuing paper money, but it did forbid them from designating future currency issues as legal tender for public and private debts. This tight money policy created financial difficulties in the colonies, where gold and silver were in short supply

Read more in my article https://bit.ly/dollarhyperinflation