Recently, new crypto accounting standards were approved, recognizing Bitcoin and other digital currencies in national wealth statistics.
What Has Changed?
Under the revised System of National Accounts and Balance of Payments Manual, digital assets like Bitcoin are no longer statistical blindspots. They are recorded as non-financial assets, similar to land and gold, increasing transparency and risk assessment tools for emerging market policymakers.
El Salvador Enters the Record Books
El Salvador's Bitcoin policy is the first concrete example of national BTC holdings being recorded under the new standards. This means that the country's over 6,000 BTC worth $550 million will now be officially recorded. However, there remains controversy over recent government statements about additional BTC purchases.
Why It Matters?
The shift from viewing Bitcoin as speculative to recognizing it as a capital asset is significant. These new accounting standards allow for tracking crypto flows within balance of payments frameworks, providing regulators with insight into the financial footprint of cryptocurrencies.
The updated crypto accounting standards mean Bitcoin is now included in national statistics. This opens doors for broader adoption and coordinated tax frameworks, along with safeguards for volatility risks of digital assets.
