The Chartered Financial Analyst (CFA) exams are set to become tougher next year especially for people without cryptocurrency knowledge. The CFA Institute will add topics on digital currencies and blockchain as materials for examination starting August 2019. The institute offers very tough exams where only 50% of applicants qualify even for the first level. There will be an inclusion of digital currencies in the second and third level curriculum beginning next year.
They will offer all required study substance as part of the Fintech in Investment Management reading materials. Other study materials will include big data, artificial intelligence, machine learning and automated trading. More topics like virtual tokens and real-world economics may also receive inclusion into the curriculum in the near future.
According to Stephen Horan, the managing director of general education and curriculum at the institute notes that, “We saw the [crypto and blockchain] field advancing more quickly than other fields and we also saw it as more durable. This is not a passing fad.” The decision to add digital currencies and blockchain came from increasing interest worldwide.
Crypto growth is seeing popularization by the addition of Bitcoin futures from the Chicago Board Options Exchange and the Chicago Mercantile Exchange. Furthermore, some of the world’s biggest banks like Goldman Sachs are adding crypto trading desks. The number of crypto exchanges is also on the rise.
The addition of digital currencies into the CFA exam will increase awareness about crypto. It will additionally raise the professional ethics of the sector. This is because CFA exams weigh highly on professional ethics, something missing in the sector.
Investing in digital currencies and ICOs is highly risky and speculative. That’s why people need more information about these markets. With the CFA offering these courses then more people will receive crypto educations. This may actually help grow the market. More institutes, as well as universities, should start similar courses.
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