Viewpoint: Cryptocurrency Takes Spotlight at 2026 Davos Geopolitical and Financial Game, Shedding Its 'Dark Money' Image

January 23, 2026 — At the World Economic Forum in Davos, cryptocurrency has emerged as a key topic at the intersection of politics and finance. While crypto is moving beyond its reputation as a tool for illicit activities, central bank governors from multiple countries warned it poses a threat to monetary sovereignty. U.S. President Trump views crypto regulation as a geopolitical competitive tool, emphasizing fast-tracking the Market Structure Act—known as the CLARITY Act—and positioning the U.S. as a global crypto hub. Meanwhile, European central bank officials, including Bank of France Governor François Villeroy de Galhau, warned private currencies could undermine monetary sovereignty, advocating for stricter regulation and the development of central bank digital currencies (CBDCs). On the issue of “monetary sovereignty,” a sharp divide has emerged between Coinbase and the Bank of France: Coinbase’s CEO argued Bitcoin’s decentralized structure makes it superior to the traditional monetary system, while the Bank of France chief stressed the criticality of currency control and sovereignty. Stablecoins and asset tokenization remain top priorities for both the industry and policymakers, though no consensus has been reached on a regulatory framework. The Davos Forum also revealed that crypto infrastructure, stablecoins, and asset tokenization continue to embed themselves into the global financial agenda. While overall consensus is still taking shape, the space has shifted from a fringe innovation to a core topic in global policy and financial discourse.