Bitcoin Goes Mainstream—IMF Integrates Crypto Into Global Standards

Source Bitcoinist

Global regulators have set the first set of wide-ranging rules to measure cryptocurrency transactions, reflecting a major transformation in the reporting of digital assets’ movements at the national level.

The International Monetary Fund has recently issued its seventh Balance of Payments Manual, bringing forth uniform regulations to monitor Bitcoin and other virtual currencies.

Mapping The Crypto Landscape

According to IMF reports, more than 160 nations came together to create a new framework that fills enormous gaps in monitoring digital asset flows. Cryptocurrency transactions, which are estimated to be in trillions of dollars every year, have long been unrecorded or irregularly reported.

Breaking Down Digital Assets

The guide proposes a comprehensive classification system for cryptocurrencies. Bitcoin, for example, will be accounted for as a non-produced, non-financial asset – the same way nations account for land or natural resource rights.

Stablecoins such as Tether will be identified as financial instruments, while crypto services like mining and staking will be classified under computer services exports.

Global Governments Take Notice

Two nations have taken significant steps in cryptocurrency governance. The United States has formed a strategic Bitcoin reserve, holding about 200,000 BTC for the most part obtained through lawful seizures. United States President Donald Trump signed an executive order blocking future sales of the assets.

Bitcoin’s National Experiment

In the meantime, El Salvador persists with its Bitcoin plan. The nation has amassed 6,125 BTC, worth approximately $538 million, even after inking a $1.4 billion deal with the IMF in December 2024 that called for restrictions on cryptocurrency transactions.

These national cryptocurrency reserves, as per the new guidance from the IMF, will now be monitored in the same manner as cross-border land acquisitions or spectrum license purchases. This methodology offers greater than ever transparency with which various nations are managing digital assets.

Community Reaction

The response of the crypto community has been varied. Some interpret the manual as a grand acknowledgment of Bitcoin’s stature, while others are warning that too much must not be made of the report. Max Keiser, Bitcoin adviser to Salvadoran president, asserted the IMF acknowledged Bitcoin as “digital gold” – but the IMF did not endorse any such status.

Cryptocurrency-using countries will be the ones to gain the most from these new reporting formats. In Nigeria alone, for instance, more than 35% of adults claim to use or possess cryptocurrencies, as revealed in a 2023 KuCoin report.

Though the guide does not give legal status to cryptocurrencies, it is an important step towards realizing their international economic significance. Banks and governments will be able to track and report cryptocurrency transactions across borders using clear and consistent methods.

The IMF upgrade marks an increasing recognition of cryptocurrencies as a significant element of the global finance system, despite controversies surrounding their future role.

Featured image from Gemini Imagen, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
4 Month 24 Day Thu
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
placeholder
Solana (SOL) Holding Strong Above $150 — Breakout Zone In PlaySolana started a fresh increase from the $132 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone. SOL price started a fresh increase above the $135
Author  NewsBTC
17 hours ago
Solana started a fresh increase from the $132 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone. SOL price started a fresh increase above the $135
placeholder
Ethereum Price Forecast: Accumulation addresses grab 1.11 million ETH as bullish momentum risesEthereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Author  NewsBTC
17 hours ago
Ethereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
placeholder
XRP Price Hovers at Support — Can The 100 SMA Spark Bullish Bounce?XRP price corrected gains from the $2.30 zone. The price is now consolidating near the $2.150 support and might aim for a fresh increase. XRP price started a fresh increase above the $2.150 zone. The
Author  NewsBTC
17 hours ago
XRP price corrected gains from the $2.30 zone. The price is now consolidating near the $2.150 support and might aim for a fresh increase. XRP price started a fresh increase above the $2.150 zone. The
placeholder
Ethereum Flashes Bullish Golden Cross – Is A Major Rally On The Horizon?Ethereum (ETH), the second-largest cryptocurrency by market cap, is up 9.9% over the past week. Recent analyses suggest the digital asset may continue its bullish momentum in the near-term. Ethereum
Author  NewsBTC
17 hours ago
Ethereum (ETH), the second-largest cryptocurrency by market cap, is up 9.9% over the past week. Recent analyses suggest the digital asset may continue its bullish momentum in the near-term. Ethereum
goTop
quote