IMF: Some encrypted assets will be included in the System of National Accounts (SNA) and classified as' non productive non-financial assets'

According to the official blog of the International Monetary Fund (IMF), the System of National Accounts (SNA), a global standard for measuring economic activity, will be updated to more comprehensively incorporate emerging technologies, digital services, and intangible assets. An important driving factor for the update of the System of National Accounts (SNA) is the growing importance of cryptocurrency assets. Although cryptocurrency accounts for a relatively small share of global assets, it may have significant impacts on future financial stability, tax policies, and regulatory oversight. Now, statisticians have found a way to classify certain encrypted assets as' non productive non-financial assets', which will be reflected in national wealth. Ensuring that the new System of National Accounts (SNA) can guide countries on how to report cryptocurrencies is a way to develop future oriented standards. In addition, in order to better reflect the digital economy, SNA recommends that countries develop a set of indicators covering areas such as artificial intelligence, cloud computing, digital intermediary platforms, and e-commerce. However, as encrypted assets do not involve the creation of traditional goods or services, they are not included in the Gross Domestic Product (GDP). The revised standards are expected to be implemented globally from 2029 to 2030.