It’s 2025, yet here we are -still watching financial advisers and accountants bury their heads in the sand when it comes to cryptocurrency. The industry’s ongoing refusal to acknowledge crypto as a legitimate asset class is not just outdated; it’s irresponsible. But today, the Financial Advice Association Australia (FAAA) has taken it a step further - actively silencing discussion on crypto by refusing entry to those who dare speak about it. Enough is enough.

First, we saw banks restricting customer transactions to crypto exchanges, deciding that Australians shouldn’t have the right to use their own money as they see fit. Now, we have a professional body - the very organisation meant to promote financial literacy and client-first advice - shutting down any conversation on crypto by excluding professionals from their events. A colleague of mine, who works in the crypto industry, was recently refunded their attendance ticket to an FAAA event and asked to leave. Why? Because the FAAA doesn’t want anyone talking about crypto to their members.

Let that sink in.

This is a blatant attempt to suppress knowledge, innovation, and progress. Whether financial advisers like it or not, cryptocurrency is here to stay. It’s an asset class that an increasing number of Australians are investing in, and yet advisers are either too scared or too wilfully ignorant to engage in a proper discussion about how to incorporate it into financial strategies. Instead, they choose to cling to outdated models, hoping that if they ignore crypto long enough, it will just disappear. Spoiler alert: it won’t.

What’s even more shameful is the hypocrisy. Advisers are expected to act in the best interest of their clients. How can they possibly do that when they refuse to educate themselves about an asset class that clients are already invested in? Are they really so threatened by change that they’d rather pretend crypto doesn’t exist than evolve with the times?

The FPA and the broader financial services industry need to wake up. Their role is to guide, educate, and support clients in making informed financial decisions - not to dictate what they can and cannot invest in based on outdated biases. If advisers truly care about their clients’ best interests, they should be embracing knowledge, not shutting it down.

The crypto conversation isn’t going away. It’s time for the industry to stop resisting, start listening, and do better. The future of finance is evolving - either keep up or get left behind.