This paper examines how the updated macroeconomic statistical standards reflect the ongoing financial innovations with regards to new financial instruments, service providers, and activities. It discusses the updated statistical methodologies (recently updated 2025 SNA/BPM7) to capture activities related to fintech, crypto-assets, and other emerging phenomena in digital finance, as well as challenges and aspects still to be addressed. Moreover, the article highlights the significance of data in understanding the evolving financial landscape and assessing macroeconomic implications of fintech and crypto assets.
CarstensA. Digital currencies and the future of the monetary system. Speech at the Hoover Institution policy seminar, Bank for International Settlements. 2021.
2.
ShironoKDasBFanY, et al.Is Mobile Money Part of Money? Understanding the Trends and Measurement. 2021.
Financial Stability Board. Global monitoring report on non-bank financial intermediation 2024, 2024.
5.
IllesAKWiertsP. Advancing in tandem - results of the 2024 BIS survey on central bank digital currencies and crypto. BIS Papers No 159. 2025.
6.
KunaratskulTLannquistAReslowA, et al.Central Bank Exploration of Tokenized Reserves. IMF Fintech Note 2025/011, International Monetary Fund, Washington, DC. 2025.
7.
International Monetary Fund & Financial Stability Board. IMF-FSB synthesis paper: Policies for crypto-assets, https://www.fsb.org/uploads/R070923-1.pdf (2023, September 7).
8.
CarapellaFChuanGGersztenJ, et al.Tokenization: Overview and Financial Stability Implications, Finance and Economics Discussion Series 2023-060. Washington: Board of Governors of the Federal Reserve System, 2023.
9.
CarapellaFDumasEGersztenJ, et al.Decentralized Finance (DeFi): transformative potential & associated risks, federal reserve Bank of Boston, Working Paper SRA-22-02, 2022.
10.
AdrianTMancini-GriffoliT. The rise of digital money. IMF Fintech Notes, No. 2019/001. 2019.
