The vast majority of early cryptocurrency investors are, unsurprisingly, young technophiles. The rise of cryptocurrencies to global stardom has catapulted these obscure figures to the spotlight, showering them with riches and celebrity status. The wild success of these early adopters has spurred more and more people to invest in cryptocurrencies, particularly, the young and tech savvy. While the young foray into the world of investments, more often than not, wrong decisions are made, attributable to a lack of financial literacy and experience.
With a view to impart financial education and thereby better guide investment choices, in a first of its kind, an Australian high school has decided to organise an information session on cryptocurrencies. In an email sent to parents earlier this February, St. Laurence’s college announced the session, open to parents, students and staff.
The school explained that it had decided to launch the initiative after learning about cryptocurrency investments made by its students. Intended to sensitise the students on the nature of cryptocurrencies, the underlying technology, risk and safety of investments, the school added that the session wouldn’t be biased or slanted against cryptocurrencies.
Educators and financial experts have welcomed the initiative, while underlining the need for more such outreaches involving students and young adults, who are particularly liable to make poor investment choices as they start out on the investment journey. With young people and students constituting a sizable chunk of cryptocurrency investors, more institutions are expected to follow suit with similar programmes and campaigns.
While the debate between banning and bringing cryptocurrencies under a legal framework goes on, it is notable that Australia has taken the regulatory approach to cryptocurrencies by bringing exchanges and crypto businesses under its anti-money laundering and terrorism laws.
Source: CNN
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