The International Monetary Fund (IMF) released updated global standards mandating the inclusion of cryptocurrency transactions in national economic reporting frameworks. The revised Balance of Payments Manual, Seventh Edition (BPM7), published on March 20, categorizes Bitcoin and similar cryptocurrencies as non-produced nonfinancial assets in capital accounts. Stablecoins, which represent liabilities, are now classified as financial instruments alongside traditional equity holdings.
Under the new guidelines, cross-border cryptocurrency flows involving Bitcoin will be recorded as acquisitions or disposals of non-produced assets. Tokens linked to protocols or platforms, such as Ethereum or Solana, may be treated as equity-like assets if their holder resides in a different country from the project’s originator. For example, Solana tokens held by a UK investor from a U.S.-based issuer would be categorized similarly to foreign equity investments. The IMF clarified that staking rewards and similar earnings could qualify as income under current accounts, mirroring dividend payments contingent on their economic purpose and scale.
The framework also addresses crypto mining and validation activities, classifying them as service production. This positions cryptocurrency mining revenue and related fees under exports or imports of computer services. Developed through consultations with over 160 countries, the standards aim to enhance transparency and consistency in measuring the macroeconomic impact of digital assets. Analysts suggest the IMF’s integration of cryptocurrencies into its statistical framework signals a broader shift toward institutional recognition of digital assets.
Countries adopting the guidelines will gain improved tools to monitor crypto-related capital flows, tax implications, and financial stability risks. The IMF emphasized that the updated manual reflects extensive feedback from global stakeholders and is designed to complement existing financial regulations.
Sources:
IMF updates global standards to include crypto in balance of payments
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