IMF takes the lead: Crypto assets are officially included in national wealth statistics, without affecting GDP calculations.

CN
1 day ago

Source: cryptoslate

Translation: Blockchain Knight

The global economic statistical standards have been updated to officially include Bitcoin and other crypto assets in national wealth statistics. This marks a key shift for governments in how they measure digital value and financial innovation.

The new version of the System of National Accounts (SNA), approved by the United Nations Statistical Commission and coordinated by the International Monetary Fund (IMF) and other global institutions, classifies eligible crypto assets as "non-produced non-financial assets."

Although these assets are still not included in GDP calculations, they will be accounted for in national balance sheets to reflect their increasingly important role in the financial system and public sector investment portfolios.

This revision is part of a global effort to modernize statistical systems to meet the statistical needs of countries regarding production, income, and wealth in a rapidly digitizing context.

The IMF, which played a key role in the standard revision, emphasized the importance of capturing the economic impact of digital assets like Bitcoin. Although crypto assets represent a relatively small share of global wealth, their volatility and growing prevalence have significant implications for financial stability, tax policy, and regulatory oversight.

By incorporating cryptocurrencies into national accounts, the updated framework aims to fill a long-standing statistical gap, helping policymakers respond more effectively to emerging risks. This revision also includes statistical recommendations for artificial intelligence, cloud services, and digital platforms.

At the time of this standard adjustment, tensions between the IMF and El Salvador, the first country to designate Bitcoin as legal tender, have once again escalated.

Although El Salvador agreed to reduce Bitcoin-related policies when it reached a $1.4 billion loan agreement with the IMF in 2024, President Nayib Bukele's government continues to claim daily purchases of BTC, a statement that has been questioned by the IMF.

Reports indicate that El Salvador's publicly held position of over 6,000 BTC will be included in national wealth statistics according to the revised SNA.

The IMF plans to assist countries in adopting the new standards by 2029-2030, which could provide greater transparency for economies that incorporate cryptocurrencies and face global financial scrutiny.

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