Our present financial system should not be thinking of cryptocurrency as a threat. Cryptocurrency can be a huge help to the system we now have, and that it will always co-exist in every way.
I do believe that crypto has given a threat to traditional financial system somehow but it's not enough to replace it. The traditional financial system is here to stay because it's the most demand by the people and crypto could be a great help too having it as an alternative payment system where some people find it more convenient.