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The International Monetary Fund (IMF) announced its inclusion of Bitcoin (BTC) 
$103,220 and other cryptocurrencies into its global economic standards for the first time. In the latest update of the Balance of Payments Manual (BPM7), the IMF officially recognized Bitcoin and other cryptocurrencies. Consequently, cryptocurrencies like Bitcoin will now be monitored more clearly in global economic reports. The update also includes significant innovations regarding how cryptocurrency transactions and activities will be tracked between countries. The claim that the IMF referred to Bitcoin as “digital gold” sparked a brief discussion on social media.
Claims of IMF Calling Bitcoin “Digital Gold”
A user named “Ashcrypto” on the social media platform X claimed that the IMF recognized Bitcoin as “digital gold.” This assertion quickly spread throughout the cryptocurrency community, leading notable figures like Dennis Porter to question it. Porter asked, “Can you provide clear evidence of the IMF describing Bitcoin as ‘digital gold’?” seeking clarification on Ashcrypto’s claim.
Porter examined the IMF’s statement in detail to clarify the situation. He noted that the IMF actually described Bitcoin as “a new cryptocurrency designed as a means of payment or store of value.” According to Porter, the term “designed” is significant. He emphasized that the IMF did not officially endorse Bitcoin as digital gold but merely pointed out its potential functions. Additionally, Porter reminded that Bitcoin is not as stable as gold, with its value fluctuating constantly.
Key Details in IMF’s Classification of Cryptocurrencies
The updated Balance of Payments Manual classifies cryptocurrencies like Bitcoin as “non-productive capital assets.” Meanwhile, stablecoins have been included in the category of financial instruments.
According to the new regulations, cross-border cryptocurrency transactions, staking, and mining activities will now be reported more clearly. Notably, mining and staking will be accounted for as export or import items under computer services.
The IMF’s update aims to ensure more accurate tracking of cryptocurrencies in global financial reporting. It also seeks to increase transparency in the cryptocurrency market and facilitate the work of regulatory bodies. Experts believe that the IMF’s classifications will strengthen the position of the cryptocurrency market within the financial world.
