The Financial Stability Board (FSB), which coordinates financial regulation for G-20 nations, says cryptocurrencies do not pose a risk to the global financial system, CCN reports. The body’s chairman, Mark Carney, who is also governor of England’s central bank, sent a letter to G-20 members saying the FSB had reviewed potential risks to the financial system. He says a key reason they’re not a threat right now is their combined market value is less than 1 percent of global GDP. Members of the G-20 are meeting this week in Buenos Aires and are expected to discuss cryptocurrencies. Read more here.

 

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