Financial investment association CFA Institute has confirmed cryptocurrency and blockchain will appear in its global finance exams from 2019.
‘This Is Not A Passing Fad’
Speaking to Bloomberg, which describes the move as a possible “definitive sign that cryptocurrencies have arrived on Wall Street,” the examiner said it considers the crypto space as growing faster than any other, being “more durable” in future.
Stephen Horan, managing director for general education and curriculum at the CFA Institute in Charlottesville, Virginia, told the publication:
We saw the field advancing more quickly than other fields and we also saw it as more durable. […] This is not a passing fad.
The seeming endorsement of cryptocurrency as essential for financial proficiency comes amid increasing anticipation for institutional investors and their money – Wall Street among them – to pile into the space with a vengeance.
As Bitcoinist reported on June 16, the sense of ‘not if, but when’ continues to come from a wide range of sources from inside and outside the financial industry.
BlackRock, the world’s largest ETF provider with $6.3 trillion of assets under management, revealed this week it was eyeing Bitcoin futures investment and keeping tabs on competitor moves.
‘More Education Is Always Good’
As part of its more informal coverage of the crypto sphere, the CFA has likewise appeared to fully grasp the industry is in a state of flux, commenting in a recent blog post:
[…T]here seems to be some dissonance between public critique and private investments. These companies are investing in the future of bitcoin and cryptocurrencies.
The post continued:
Maybe a classic shakeout is required that culls most cryptocurrencies from the herd, but leaves a select few survivors that add something special to the marketplace.
The move to integrate cryptocurrency and blockchain into the curriculum was also a result of demand, while extant financial players appeared to welcome the opportunity to present a more in-depth awareness of the industry to newbie professionals.
“More education is always good,” cryptocurrency trading firm QCP Capital managing partner Darius Sit told Bloomberg.
Images courtesy of AdobeStock, CFA Institute
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Author: Wilma Woo