IMF Includes Bitcoin in Global Standards – Dennis Porter Clears Up ‘Digital Gold’ Confusion

Monicah W

IMF’s New Crypto Classification Explained_ Bitcoin, Stablecoins, and Staking

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Recently, the IMF (International Monetary Fund) has updated its balance of payments standards to account for the increasing importance of digital assets. For the first time, cryptocurrencies like Bitcoin (BTC) are officially recognized in global economic reports.

However, this sparked a wave of discussion in the crypto community where many claimed that the IMF had referred to Bitcoin as “digital gold.”This quickly caught the attention of many in the space, fueling debates and speculation across social media. However, Dennis Porter, a well-known voice in the space, quickly questioned this interpretation, asking, “Can anyone point to exactly where the IMF says Bitcoin is ‘digital gold’?”

Dennis Clarifies The Confusion

After diving into the IMF’s statement, Dennis clarified the source of the confusion. The IMF actually referred to Bitcoin as a “new digital asset designed to be used as a means of payment or act as a store of value.”

He remarked that the phrase “designed to be” is crucial here and it doesn’t necessarily mean that the IMF is officially endorsing Bitcoin as “digital gold” or guaranteeing its stability or value like gold. It’s more about recognizing Bitcoin’s potential, not confirming it as a proven asset. The “store of value” idea for Bitcoin is debated due to its volatility. Unlike gold, which has a long history of stability, Bitcoin’s price can fluctuate significantly.

IMF Provides Guidelines on Tracking Digital Assets

The IMF’s latest update to the Balance of Payments Manual (BPM7) now includes cryptocurrencies like Bitcoin (BTC) in its global economic framework. This is the first time the IMF has provided clear guidelines on how digital assets should be tracked in global financial stats, marking a big step for crypto in the financial world.

Cryptos like Bitcoin are classified as non-productive capital assets, while stablecoins are treated as financial instruments. The update also changes how cross-border crypto transactions, staking, and mining are tracked, with mining and staking now recorded as services in a country’s computer services exports/imports.

This update is a big step in officially recognizing digital assets as part of the global economy, helping to track and regulate them better in the future.

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Indian Govt’s New Tax Law: Officials Can Access Your Emails & Social Media from April 2026!

The post Indian Govt’s New Tax Law: Officials Can Access Your Emails & Social Media from April 2026! appeared first on Coinpedia Fintech News

India’s New Income Tax Bill, proposed in 2025, has raised serious concerns about digital privacy. If passed, the bill would allow tax officials to access individuals’ emails, social media, and trading accounts starting from April 1, 2026. The government claims this measure is necessary to curb tax evasion, but many are worried about potential misuse and privacy violations.

Digital Locks No Longer Safe

Currently, tax officials do not have direct authority to check digital records, which has led to legal confusion. The new bill seeks to remove these uncertainties by officially granting them the power to access:

  • Email servers
  • Online banking and investment platforms
  • Social media accounts
  • Digital storage and applications

Beginning April 1, 2026, tax officers will have the legal right to investigate a person’s digital presence if they suspect tax evasion. 

This means they could check emails, social media activities, bank accounts, trading records, and even personal messages to look for undisclosed income, gold, jewelry, or other valuable assets on which taxes have not been paid.

What does the Law say?

Under the current Income Tax Act, of 1961, officials can enter properties and seize documents if they believe someone is hiding financial details. The new bill takes this a step further by giving them access to digital records. 

This means tax officers could check personal messages, emails, and online accounts if they think someone is evading taxes. While the government insists these powers will only be used in serious cases, many people worry about the lack of clear rules.

A Threat to Digital Freedom?

While the bill aims to improve tax compliance, legal experts and privacy advocates worry it could lead to excessive government surveillance. They argue that without proper safeguards, authorities might gain too much control, increasing the risk of harassment and misuse of personal financial data.

  • Possible harassment of taxpayers
  • Unnecessary scrutiny of personal information
  • Threats to digital rights and privacy

Critics fear that businesses and individuals could face unfair investigations, and there are questions about how sensitive data will be handled and protected.

Bill is Currently In a Review

The bill is currently being reviewed by a parliamentary committee, and changes might be made before it becomes law. While the government sees this as a step toward better tax enforcement, concerns over privacy and misuse remain.

The post Indian Govt’s New Tax Law: Officials Can Access Your Emails & Social Media from April 2026! appeared first on Coinpedia Fintech News
India’s New Income Tax Bill, proposed in 2025, has raised serious concerns about digital privacy. If passed, the bill would allow tax officials to access individuals’ emails, social media, and trading accounts starting from April 1, 2026. The government claims this measure is necessary to curb tax evasion, but many are worried about potential misuse …

Canary Capital Sets SUI ETF in Motion with Delaware Filing

Canary Capital, an asset management firm, has registered a statutory trust for a Sui (SUI) exchange-traded fund (ETF) in Delaware. 

The filing, submitted to the Delaware Division of Corporations on March 6, hints at the firm’s intention to launch an SUI ETF. 

Canary Capital Takes First Step Towards SUI ETF

The registration is the first step before submitting an S-1 form to the US Securities and Exchange Commission (SEC). Additionally, the firm will need to submit a 19b-4 filing to the SEC through the exchange where the ETF will be listed. 

SUI ETF
Canary SUI ETF Filing. Source: State of Delaware Official Website

Notably, Canary Capital is the first firm to pursue a SUI ETF. Yet, its ambitions extend beyond SUI. 

The asset manager recently filed an S-1 registration statement for an Axelar (AXL) ETF. In addition, it is exploring funds tracking Litecoin (LTC), XRP (XRP), Solana (SOL), and Hedera (HBAR).

Amidst this, a Sui Network ambassador outlined the potential market impact of a SUI ETF, drawing comparisons to the success of Bitcoin (BTC) and Ethereum (ETH) ETFs. According to the ambassador, a SUI ETF could bring similar benefits.

“Even a slice of the interest that BTC/ETH ETFs saw could significantly boost Sui Network liquidity and market cap,” the post read.

He explained that SUI ETF could boost liquidity by offering a new trading platform for both crypto and traditional investors. Moreover, by holding actual SUI tokens, the ETF could reduce the circulating supply, potentially driving up the price.

The increase in liquidity and price would boost ecosystem growth, making it attractive for developers and institutional investors looking to capitalize on this momentum.

“Bitcoin and Ethereum are now “established.” A newer network like Sui offers higher risk but possibly higher reward, akin to investing in an emerging tech stock,” he wrote.

Nonetheless, the ambassador noted that institutions may be cautious with an SUI ETF. He cited volatility, liquidity, and regulatory uncertainty as potential concerns. 

Furthermore, he claimed that regulatory approval may be difficult, as the SEC has scrutinized many altcoins as potential securities. Thus, he believes SUI could face the same fate, requiring market surveillance and clarity on its status. However, he acknowledged that these regulatory procedures could become more streamlined with President Trump now in office.

Interestingly enough, the filing comes just a day after President Trump-backed World Liberty Financial announced a partnership with the Sui blockchain. The partnership will focus on product development, with WLFI including the altcoin in its Macro Strategy reserve.

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