The International Monetary Fund (IMF) has updated its balance of payments standard to incorporate digital assets in the new BPM7 guide.
Classification of Digital Assets in BPM7
The recently released Balance of Payments Manual (BPM7) categorizes Bitcoin and similar cryptocurrencies as non-produced nonfinancial assets. Some tokens will be treated similarly to equity holdings.
Circulation and Accounting of Crypto Assets
According to BPM7, Bitcoin and similar assets designed to be mediums of exchange without liabilities will be regarded as capital assets. In contrast, stablecoins backed by liabilities will be classified as financial instruments.
Staking Rewards and Their Accounting
The IMF recognized staking complexity and yield-bearing crypto activities, noting that staking rewards may resemble equity dividends and should be recorded as current account income.
The IMF’s Balance of Payments Manual remains a key reference for countries worldwide and will continue to influence global economic standards.
