Bitcoin News Today: IMF Recognizes Bitcoin's Economic Value in Revised SNA Framework

The International Monetary Fund (IMF) has officially acknowledged that Bitcoin holds real economic value, signaling a pivotal shift in how cryptocurrencies will be treated within global economic frameworks [1]. This recognition is driving the organization’s call to update the System of National Accounts (SNA), a key global standard for tracking economic activity. The revised SNA aims to integrate emerging technologies, digital services, and intangible assets, providing governments with more accurate tools to manage economic growth, employment, and crisis response [1].

The updated SNA will include specific provisions for classifying and accounting for digital assets like Bitcoin. While the IMF has not yet finalized the exact scope of the revisions, the acknowledgment of Bitcoin’s economic relevance marks a departure from earlier skepticism, where cryptocurrencies were largely dismissed as speculative or without productive value [1]. The IMF now argues that Bitcoin, despite its lack of traditional goods or services, still consumes significant resources—such as energy equivalent to that of Argentina—and therefore merits inclusion in broader economic metrics [1].

This development reflects the growing institutional and market adoption of cryptocurrencies globally. It also highlights the need for updated frameworks to address the challenges and opportunities posed by digital innovation. The revised SNA will not only cover digital assets but also incorporate recommendations for sectors like artificial intelligence, cloud computing, and e-commerce, aiming to ensure consistent and comprehensive economic measurement [1].

In addition, the framework will promote the use of net domestic product (NDP) alongside GDP as a key economic metric. Unlike GDP, which does not account for capital depreciation or natural resource depletion, NDP provides a more accurate picture of a nation’s economic health, especially for countries dependent on extractive industries [1]. The IMF has also emphasized the importance of monitoring financial risks associated with the rise of non-bank institutions and digital platforms.

To support the transition, the IMF has offered technical assistance, expert guidance, and training programs, with implementation expected to be completed by 2029–30 [1]. By formalizing the inclusion of digital assets in national accounts, the IMF is setting the stage for a more integrated and transparent global financial system.

Source: [1] IMF says new SNA will include recommendations for crypto and AI rules (https://www.cryptopolitan.com/imf-says-new-sna-adds-crypto-and-ai-rules/)