The world-renowned Chartered Financial Analyst Institute (CFA) is to introduce topics on cryptocurrencies and blockchain to its professional investment management studies next year, bringing cryptocurrency yet another step closer to inclusion in the traditional financial world.
This marks the first time these topics will be included in the CFA study program which has already awarded credentials to around 150,000 professionals who have passed the institute’s exams world-wide. From there many have gone on to power Wall Street and major world stock exchanges, or take leading roles in the mainstream economy. This year alone 227,031 people from all over the world have signed on to take CFA exams. The majority are from Asia, which is one of the areas at the forefront of virtual trading.
Increasing Interest Motivates Crypto Studies Inclusion
According to the CFA, the inclusion of cryptocurrency and blockchain technology topics in the first two levels of the program follows increasing interest being shown in aspects of the digital economy in surveys. Events in the financial world have also indicated a narrowing in the divide between the crypto and financial arenas. These include Wall Street operators joining startups in the crypto world, and major companies like Goldman Sachs Group Inc showing interest in digital assets.
The General Education and Curriculum MD at the CFA Institute, Stephen Horan, is reported as saying the inclusion was also motivated by the how fast the field was advancing, and its durability when compared with other fields.
Technology and Ethics
The blockchain and crypto studies will be included in two areas of the curriculum. In the Fintech section, they will join other subjects like automated trading, big data, machine learning and AI. Other areas such as the intersection between economics and virtual currencies would possibly be included in the future.
In addition, the crypto topics would also be taken into account in the CFA professional ethics readings because of problem areas that have shown up in the field like legal grey zones, fraud and manipulation of the market, criminal activity and hacking which has troubled the crypto arena.