IMF Adds Bitcoin and Digital Assets to Global Economic Statistics for the First Time

The International Monetary Fund (IMF) has taken a historic step by officially recognizing digital assets within its global economic reporting framework. This move marks the first time that cryptocurrencies and blockchain-based assets have been formally incorporated into the IMFs global economic statistics.

Released on March 20, the new guidelines are part of the seventh edition of the Balance of Payments and International Investment Position Manual (BPM7). The manual updates global statistical standards that were last revised in 2009, reflecting the rapid evolution of digital finance and the increasing adoption of cryptocurrencies worldwide.

Comprehensive Classification of Digital Assets

One of the major highlights of the updated manual is the structured classification of digital assets. The IMF categorizes digital assets into two main types: fungible and non-fungible tokens (NFTs). Further, the classification hinges on whether the assets carry associated liabilities.

For instance:

• Bitcoin and similar cryptocurrencies without any underlying liabilities are classified as non-produced nonfinancial assets. These are categorized under the capital account, and any cross-border transactions involving these assets are recorded as acquisitions or disposals of non-produced assets.

• Stablecoins and similar digital currencies backed by liabilities are treated as financial instruments.

• Platform-based tokens like Ethereum and Solana may be considered equity-like instruments if held across borders, signifying ownership similar to traditional stocks.

Implications for Crypto Mining and Staking

The manual also introduces guidelines on staking and crypto yield activities, categorizing them as income-generating services. Depending on the holders intention and the scale of their holdings, staking income may be treated as a form of dividend income.

Additionally, services related to crypto mining and staking are now recognized as exportable computer services, aligning with the broader trend of treating digital economy activities as export-oriented services. This shift acknowledges the growing importance of blockchain technology as part of the global digital economy.

Global Adoption and Future Implementation

The IMF collaborated with over 160 countries and the IMF Committee on Balance of Payments Statistics (BOPCOM) to develop this framework. The goal is for countries to widely adopt these new standards by 2029–2030. To support this transition, the IMF will offer technical assistance and guidance to ensure smooth implementation.

The IMFs adoption of digital assets into global statistics is a significant milestone for the crypto industry. It means that countries now have a standardized way to track and manage digital assets, helping governments and financial institutions to better understand their impact on the economy.