IMF’s New Approach to Crypto Assets in the Global Economy

The IMF’s BPM7 redefines crypto in global finance, classifying Bitcoin as an asset and Ethereum as equity, while recognizing staking and crypto services in economic standards.

Zagham Abbas
March 22, 2025
12:41 pm

Zagham Abbas

Zagham is a renowned crypto journalist known for his insightful analysis and in-depth reporting on the cryptocurrency industry.

The IMF’s Balance of Payments Manual, Seventh Edition (BPM7) officially classifies Bitcoin as a “non-produced nonfinancial asset,” treating it similarly to traditional capital assets.
Platforms like Ethereum and Solana categorize cryptocurrencies as “equity-like holdings,” aligning them with foreign equity investments.
The manual now recognizes staking rewards as similar to equity dividends and records them under current account income.

The International Monetary Fund (IMF) has revised its balance of payments standards to capture better the increasing role played by digital assets within economies worldwide. The recently published Balance of Payments Manual, Seventh Edition (BPM7), released on March 20, is a turning point for the IMF’s strategy on cryptocurrencies, with comprehensive guidance for their inclusion in international economic data.

IMF has released the seventh edition of its Balance of Payments Manual (BPM7), incorporating Bitcoin and other cryptocurrencies into the balance of payments framework. Classified as non-produced assets, these digital assets are now part of global economic statistics under the…
— Wu Blockchain (@WuBlockchain) March 22, 2025

For the very first time, virtual currencies like Bitcoin (BTC) are now classified as non-produced nonfinancial assets, a distinction that differentiates them from financial assets. The revised manual also treats various types of tokens separately, distinguishing between fungible and nonfungible tokens (NFTs) and explaining how to account for them in national accounts.

Among the notable changes in BPM7 is the treatment accorded to such cryptocurrencies as Bitcoin. These, according to the IMF, will be classified as “non-produced nonfinancial assets” and will be recorded on a standalone basis on the capital account. It will result in cross-border transactions involving such crypto currencies as Bitcoin being recorded as acquisitions or disposals of non-produced assets, just as with traditional capital assets.

IMF Recognizes Ethereum & Solana in Global Accounting

The IMF also includes tokens with a protocol or a platform, such as Ethereum or Solana (SOL), that are now equity-like holdings on the financial account. It is crucial because this classification reflects the ownership structure for these tokens, which can appear similar to foreign equity investment conventionally. For example, if a British investor holds tokens issued by the US on Solana, this will be recorded as an “equity crypto asset.”

This new framework acknowledges the growing complexity of digital asset ownership. It also clarifies how to treat these assets across borders. The IMF states that crypto assets, despite their cryptographic roots, resemble traditional equity in ownership rights. This reflects the growing recognition of digital assets as part of international finance.

In addition to classifying these holdings, the IMF addresses emerging trends in the crypto sector. This includes staking and other return-generating activities. Staking rewards, earned by holding specific tokens, are now treated similarly to equity dividends. Record them as part of current account income, depending on the quantity and purpose of holding.

IMF Updates Guidelines on Crypto Services in Trade

The revised guidelines of the IMF also include the increasing importance of crypto-related services, including mining and staking. These services, essential for validating crypto asset transfers, will now be classified as part of service production. This will contribute to the exports and imports of computer services.

Contributors from more than 160 countries worldwide have written the new BPM7 manual. This signifies a global agreement on how digital assets will shape the future of international economic statistics. Although each jurisdiction will implement these changes differently, the IMF’s revamp marks a significant shift. It moves toward legally acknowledging the economic effects of cryptocurrencies and related services.

This move toward global financial accounting frameworks comes at a time when the digital currency industry is still growing rapidly. It will have a lasting impact on how countries track, report, and engage with digital assets in the future. With a focus on comparability and international standards, the IMF’s new framework provides the most detailed guidance ever. It explains how national and international financial frameworks integrate digital assets.