An international group of central bank regulators and government ministers said that cryptocurrencies don't pose a risk to global financial stability. because they are small relative to the financial system."
"Even at their recent peak, their (cryptocurrencies) combined global market value was less than 1% of global GDP," he continued. "In comparison, just prior to the global financial crisis (in 2008), the notional value of credit default swaps was 100% of global GDP.