The landlocked country of Andorra sought technical assistance from the International Monetary Fund on various topics including effectively monitoring crypto assets.
The International Monetary Fund (IMF) provided technical advice to Andorra, a landlocked country bordering France and Spain, on recording Bitcoin (BTC) transactions in response to their request for assistance.
The IMF conducted a technical assistance (TA) mission in the Principality of Andorra in September 2023 with the goal of enhancing the country’s balance of payments statistics. The metric primarily deals with recording economic transactions between residents and non-residents.
Andorra — a country best known for its ski resorts and tax-haven status — required technical assistance on 56 topics, one of which was its inability to record cryptocurrency transactions. In response, the IMF report stated:
