CFP Board’s Statement on President Biden’s Executive Order on Digital Assets

CFP Board, the professional body that grants the CFP® certification mark to personal financial planners in the U.S, welcomes the Executive Order signed yesterday by President Biden calling for a government-wide, holistic approach to developing policy recommendations for digital assets and cryptocurrencies. The Executive Order on Ensuring Responsible Development of Digital Assets recognizes that there are both potential benefits and risks to this emerging asset class, which needs important protections essential to any asset sold to investors. CFP® professionals report that an increasing number of their clients are asking about crypto investing, and whether these assets should be part of their investment portfolio. Action by government agencies to recognize crypto as a legitimate investable asset class with accompanying investor and consumer protections is a positive step forward.