demonetize

verb

1. (transitive)To withdraw the status of legal tender from a coin (etc.) and remove it from circulation.

   “A bill to demonetize existing French gold coinage has been introduced in the Chamber of Deputies by Deputies Lenoir, Bouffandeau, and Eymond. The purpose is to force hoarders to bring out gold estimated at 4,000,000,000 francs which is still kept in hiding in spite of patriotic appeals to the owners to exchange it for notes.”

2. (transitive)To declare ineligible or worthless as a medium of exchange or as legal tender.
3. (Internet, transitive)To demote (published content, or its creator) so that it is no longer eligible to earn money for its publisher.

   “The site has the ability to demonetize a video.”

   “Other high-profile YouTube stars including Logan Paul, Shane Dawson and David Dobrik have had their channels demonetized after controversies in the media. Many demonetized creators still run highly profitable businesses.”