tl;dr
Global economic standards have been updated to formally recognize Bitcoin and other crypto assets as "non-produced nonfinancial assets" in national wealth statistics, though they remain excluded from GDP calculations. This change, part of the revised System of National Accounts approved by the UN St...
Global economic standards have been updated to formally recognize Bitcoin (BTC) and other crypto assets in national wealth statistics, marking a pivotal shift in how governments measure digital value and financial innovation. The new System of National Accounts (SNA), approved by the United Nations Statistical Commission and coordinated by the IMF and other global institutions, classifies eligible crypto assets as “non-produced nonfinancial assets.” While these assets remain excluded from GDP calculations, they will now appear on national balance sheets, reflecting their growing role in financial systems and public sector portfolios.
The revision comes as part of a broader effort to modernize how countries track production, income, and wealth in a rapidly digitizing world. The IMF, which played a key role in drafting the update, emphasized the importance of capturing the economic footprint of digital assets like Bitcoin. Though they account for a relatively small share of global wealth, their volatility and rising adoption pose notable implications for financial stability, tax policy, and regulatory oversight. By incorporating crypto into national accounts, the updated framework aims to close long-standing statistical gaps and help policymakers respond to emerging risks more effectively.
The changes also include recommendations for measuring artificial intelligence, cloud services, and digital platforms, highlighting the broad scope of the modernization effort. This holistic approach ensures national accounts remain relevant amidst rapid technological advancements.
The shift comes amid renewed tensions between the IMF and El Salvador, the first country to adopt Bitcoin as legal tender. Despite agreeing to scale back its Bitcoin-related policies under a $1.4 billion IMF loan deal in 2024, President Nayib Bukele’s administration has continued claiming daily BTC purchases—statements the IMF has challenged. El Salvador’s public Bitcoin holdings, reportedly over 6,000 BTC, are now expected to be captured in national wealth statistics under the revised SNA.
The IMF plans to assist countries in adopting the new standards by 2029–30, potentially offering greater transparency for crypto-inclusive economies navigating global financial scrutiny. This move signals a new era where digital assets gain increased visibility in official economic data, influencing policymaking and international financial relations.