Bitcoin News Today: IMF and global regulators include Bitcoin in national wealth statistics under revised SNA framework

The International Monetary Fund (IMF) and global financial regulators have updated the System of National Accounts (SNA) to include Bitcoin and other crypto assets in national wealth statistics, signaling a softening of their previously cautious stance [1]. The revised SNA, endorsed by the United Nations Statistical Commission and coordinated by the IMF, now classifies eligible cryptocurrencies as “non-produced nonfinancial assets,” allowing them to be reflected in national balance sheets, though not in GDP calculations. This change aims to capture the growing influence of digital assets in financial systems and public sector portfolios.

The inclusion marks a significant shift in how governments assess wealth in the digital age. While crypto assets remain volatile and constitute a small portion of global wealth, their increasing adoption raises implications for financial stability, tax policy, and regulatory oversight. The updated framework also includes guidelines for measuring artificial intelligence, cloud services, and digital platforms, reflecting a broader effort to modernize economic data collection.

The revision is particularly relevant for countries like El Salvador, the first to adopt Bitcoin as legal tender. Despite earlier agreements with the IMF to scale back its Bitcoin policies under a $1.4 billion loan deal in 2024, the country continues to claim daily Bitcoin purchases, a move the IMF has disputed. Under the new SNA standards, El Salvador’s public Bitcoin holdings, reportedly exceeding 6,000 BTC, will be included in its national wealth statistics. The IMF aims to help countries implement the new standards by 2029–30, potentially enhancing transparency in economies that integrate cryptocurrencies into their financial systems.

The updated SNA does not represent a full endorsement of Bitcoin’s stability or reliability but acknowledges its role in modern portfolios. The move aligns with initiatives like the U.S. Securities and Exchange Commission’s “Project Crypto,” which seeks to modernize financial infrastructure through blockchain and re-evaluate token regulations [1]. Analysts note that standardizing the valuation of crypto assets remains a challenge, requiring clear regulatory frameworks to prevent over- or underestimation in wealth assessments.

This development highlights a broader trend in global financial governance, where institutions are striving to balance innovation with stability. The IMF’s openness to integrating crypto into national accounts reflects a pragmatic approach to evolving financial realities and may signal a turning point in the institutional acceptance of digital assets.

Source: [1] IMF, global regulators soften stance on Bitcoin and crypto in wealth assessment standards (https://cryptoslate.com/imf-global-regulators-soften-stance-on-bitcoin-and-crypto-in-wealth-assessment-standards/)