Delivering remarks on “Crypto Assets and the Global Regulatory Agenda: Balancing Inclusion, Integrity and Stability,” at the 2026 World Bank Group and International Monetary Fund (IMF) Annual Meetings in Bangkok, Thailand, Central Bank Governor, Mr. Larry Howai called for a balanced and coordinated approach to crypto asset regulation. In addressing attendees, Governor Howai noted that policymakers must promote innovation while safeguarding financial integrity, consumer protection and financial stability.
Governor Howai noted that crypto assets have moved from the margins of finance into the mainstream, making effective regulation an increasingly urgent policy priority. “Crypto assets are no longer knocking on the door of the global financial system; they are already inside the building,” he said. “The question facing policymakers is no longer whether crypto matters, but how we ensure innovation, consumer protection and financial stability evolve together.”
The potential of digital asset technologies to advance financial inclusion by lowering the cost of cross-border payments was also highlighted in Governor Howai’s remarks. He emphasised that this would redound to the benefit of underserved individuals and businesses, by improving transaction speed and expanding access to financial services.
At the same time, he cautioned that the widespread adoption of foreign currency-linked stablecoins could pose significant challenges for small, open economies. Such developments, he noted, could encourage currency substitution, reduce deposits within the domestic banking system and weaken the effectiveness of monetary policy.
His remarks underscored the need to strike an appropriate balance between encouraging innovation and protecting the financial system.
“The global regulatory agenda is not a brake on innovation. It is the condition under which innovation earns the trust of the people who use it, and of the banks and partners who decide whether our financial system stays connected to the world.” He added, “Our task is to get the balance right. Not by banning what frightens us, and not by embracing what excites us, but by regulating it carefully, enforcing it honestly, and doing it together.”
The Governor’s remarks formed part of ongoing discussions at the 2026 World Bank Group and International Monetary Fund (IMF) Annual Meetings, where global policymakers, central bankers and financial sector leaders are examining emerging risks and opportunities shaping the international financial system.