IMF Adds New Crypto Classification System Featuring Bitcoin, Stablecoins, and Staking

The International Monetary Fund (IMF) has taken a significant step forward in acknowledging the rising influence of digital assets by integrating Bitcoin and cryptocurrencies into its latest balance of payments standards.

Released on March 20, 2025, the seventh edition of the Balance of Payments Manual, known as BPM7, marks the first time the IMF has formally incorporated assets like Bitcoin into its global economic reporting framework. This move reflects the growing importance of digital currencies in international finance and provides a structured approach to understanding their role in cross-border transactions, staking, and mining activities.

In this newly outlined system, the IMF categorizes cryptocurrencies such as Bitcoin as non-productive assets, a designation that sets them apart from conventional financial tools like bonds or stocks. The manual distinguishes between fungible tokens, which include widely recognized cryptocurrencies, and non-fungible tokens, which are unique digital items.

Within this structure, assets like Bitcoin that operate independently of liabilities are classified as capital assets in the capital account. Stablecoins, on the other hand, which are pegged to underlying liabilities such as fiat currencies, are treated as financial instruments. This differentiation ensures that the diverse nature of digital assets is accurately reflected in global economic data, providing a more comprehensive picture of their impact.

How These Changes Reshape Global Transactions and Staking

The implications of these classifications extend to how international cryptocurrency transactions are tracked. When Bitcoin or similar assets cross borders, they are now recorded as acquisitions or disposals of non-produced, nonfinancial assets within the capital account.

This shift enhances the visibility of crypto flows in national statistics. For platform-specific cryptocurrencies like Ethereum or Solana, the IMF introduces an additional layer of nuance. If an investor from one country holds tokens issued in another, those assets may be logged in the financial account as equity holdings, akin to owning shares in a foreign company. This approach underscores the parallels between certain crypto assets and traditional equity investments, particularly in terms of ownership and economic influence.

Beyond transactions, the IMF addresses the evolving practices of staking and mining, which are integral to many blockchain networks. Rewards earned from staking, where token holders lock up their assets to support network operations, may be treated as akin to equity dividends, depending on the scale and intent of the investment.

Meanwhile, the manual recognizes mining and staking activities as services, categorizing them under computer services exports and imports. This classification allows countries to better measure the economic contributions of these activities, which play a critical role in validating blockchain transactions and maintaining decentralized networks. By framing these processes within a services context, the IMF ensures their significance is not overlooked in global trade data.

Developed with contributions from over 160 countries, the BPM7 manual represents a collaborative effort to standardize the reporting of digital assets worldwide. While individual nations may adapt these guidelines to suit their specific economic contexts, the inclusion of cryptocurrencies in this framework signals a broader acceptance of their role in modern finance.