International Monetary Fund Updates Global Standards to Include Bitcoin and Digital Assets – Coincu

The International Monetary Fund (IMF) has formally integrated cryptocurrencies into its global economic reporting standards, reflecting the growing role of digital assets in the international financial system.

The change comes with the release of the seventh edition of its Balance of Payments Manual (BPM7), published on March 20.

International Monetary Fund Officially Recognizes Bitcoin in Global Economic Standards

For the first time, the International Monetary Fund has provided comprehensive statistical guidance on how countries should record crypto assets in their national accounts. This includes major cryptocurrencies like Bitcoin and emerging digital tokens.

Under the new framework, Bitcoin and other similar cryptocurrencies are now classified as non-produced, nonfinancial assets. These are assets that are not the result of a production process but hold value, such as land or natural resources.

The manual also distinguishes between different types of digital assets, dividing them into fungible and non-fungible tokens (NFTs), and further categorizing them based on whether they carry corresponding liabilities.

Bitcoin and comparable tokens that do not have an issuer or liability are now considered capital assets. These assets are recorded in a country’s capital account as either acquisitions or disposals. By contrast, stablecoins—digital currencies backed by traditional assets or liabilities—are categorized as financial instruments, reflecting their function within the broader financial system.

Shift in Policy Reflects Growing Role of Digital Currencies

The BPM7 manual, developed through extensive global consultation involving more than 160 countries, is expected to shape how official statistics are compiled and reported for years. The IMF stated that the update provides countries with clearer typology and classification of crypto assets, aiming to improve consistency and transparency in economic data.

The significant revision arrives amid shifting attitudes at the IMF regarding the role of digital assets in national economies. The organization has long expressed skepticism toward the use of cryptocurrencies, particularly in developing nations like China.

One notable case is El Salvador, which made headlines by adopting Bitcoin as legal tender in 2021. The International Monetary Fund initially opposed the move, warning of potential financial instability and reduced policy control.

However, in recent months, the IMF has softened its stance. In negotiations for new financial assistance, the IMF offered El Salvador loan access on the condition that it halts further government purchases of Bitcoin and removes its status as legal tender. El Salvador agreed to amend its Bitcoin Law in January, maintaining its existing BTC reserves but ceasing further acquisitions.