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coinpedia 2025-03-22 05:47:36

IMF Recognizes Cryptocurrencies in Global Economic Data for the First Time

The post IMF Recognizes Cryptocurrencies in Global Economic Data for the First Time appeared first on Coinpedia Fintech News The International Monetary Fund (IMF) has updated its balance of payments standards to account for the rising influence of digital assets. IMF Adds Bitcoin to Global Economic Stats! In its latest seventh edition of the Balance of Payments Manual (BPM7), IMF included cryptocurrencies such as Bitcoin (BTC) in the balance of payments. According to the IMF’s new standards, Bitcoin and similar cryptocurrencies are now non-productive assets in global economic statistics. The updated manual was released on March 20, marking the first time that the IMF has included detailed guidance on digital assets in its global statistical standards. The IMF’s new framework splits digital assets into fungible and non-fungible tokens and further classifies them based on whether they have associated liabilities. Bitcoin and similar tokens without liabilities are treated as capital assets, while stablecoins backed by liabilities are seen as financial instruments. According to the IMF, crypto assets like Bitcoin, which are not linked to liabilities and serve as a medium of exchange, are categorized as non-produced nonfinancial assets and recorded in the capital account. In practice, this would mean cross-border crypto transactions involving assets like Bitcoin will be tracked as acquisitions or sales of non-produced assets in the capital account. Meanwhile, tokens tied to a platform, like Ethereum or Solana (SOL), may be treated like equity holdings in the financial account if the owner is from a different country than the token’s origin. For instance, if a UK investor holds Solana tokens from the US, it would be treated like owning foreign stocks, recorded as “equity crypto assets.” The IMF highlights that, despite using cryptography, these assets are similar to standard equity when it comes to ownership rights. Staking and Crypto Yields Furthermore, the IMF acknowledges the complexity of staking and crypto yields, noting that rewards from holding tokens could be treated like equity dividends and recorded as income, based on the size and purpose of the holdings. Notably, this update helps countries better track the economic impact of digital assets. The IMF now treats activities like mining or staking, which help validate crypto transactions, as services. These will be included in computer services exports and imports. Created with input from over 160 countries, the BPM7 manual will guide global economic data. While its application may differ by country, it’s a big step toward recognizing the economic impact of digital assets worldwide.

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