The International Monetary Fund (IMF) unveiled a groundbreaking update to its global economic standards, integrating cryptocurrencies like Bitcoin into its Balance of Payments and International Investment Position reporting framework. Released on March 20, 2025, the seventh edition of the Balance of Payments Manual (BPM7) marks the first official recognition of digital assets in IMF statistical guidelines, reflecting their growing influence on global finance.
Under the new framework, Bitcoin and similar cryptocurrencies without issuer liabilities are classified as *non-produced nonfinancial assets*, recorded in the capital account during cross-border transactions. Stablecoins backed by liabilities, such as USD Tether (USDT), now fall under financial instruments in the financial account. Tokens tied to decentralized platforms, including Ethereum (ETH) and Solana (SOL), are treated as equity-like holdings when owned across borders. For example, Solana tokens held by a UK-based investor from a US-based platform would classify as foreign equity investments.
The IMF clarified that staking rewards and crypto yields could qualify as income under current account guidelines, akin to dividends from traditional equity. Activities like mining or staking—which validate blockchain transactions—are now categorized as services, contributing to computer services exports and imports. This shift enables countries to better track crypto-related economic impacts, including job creation and revenue streams tied to digital asset ecosystems.
Developed through consultations with over 160 countries, BPM7 provides a unified methodology for nations to measure crypto’s role in trade, investment, and financial systems. The IMF emphasized that crypto assets without liabilities, such as Bitcoin, diverge from traditional financial instruments due to their decentralized nature but still require standardized oversight. By distinguishing between liability-backed stablecoins, protocol-governed tokens, and non-liability crypto assets, the guidelines aim to minimize regulatory arbitrage while enhancing transparency.
The update signals a departure from the IMF’s earlier caution toward cryptocurrencies, aligning with its broader exploration of Central Bank Digital Currencies (CBDCs) and digital versions of Special Drawing Rights (SDRs). Analysts suggest this framework could accelerate institutional crypto adoption while pressuring governments to develop clearer taxation and compliance policies for blockchain-based transactions.
Sources:
https://www.ainvest.com/news/imf-recognizes-cryptocurrencies-global-economic-data-2503/
https://www.tronweekly.com/imf-classifies-bitcoin-as-key-economic-asset/
IMF updates global standards to include crypto in balance of payments
