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Title: Empowering Financial Literacy in the Crypto-Asset Era
Description: This document delves into the crucial realm of digital financial literacy among crypto-asset users worldwide. From the inadequacy of current levels of literacy to the potential vulnerabilities posed by crypto-assets, it stresses the need for collaborative efforts among policy makers, regulators, and stakeholders to enhance financial awareness. It highlights initiatives in Italy and Portugal aimed at educating individuals about crypto-assets and mitigating associated risks.
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Chunks (23)
eyorco ~—s Policy
Improving the digital financial literacy of
crypto-asset users
8 September 2025
Key messages
e An increasing number of people are using crypto-assets. Crypto-assets present oppor...
In
addition, interest in crypto-assets can be leveraged to attract new retail investors to mainstream capital
markets (OECD, 2023,4); 2024j5)). Alongside these opportunities, the high price volatility...
Evidence also suggests that holders of crypto-assets tend to be younger and less experienced in financial
markets than holders of traditional financial investments (ASIC, 2022;12;; OECD, 2023,4)). For...
Results from the OECD/INFE 2023 International Survey of Adult Financial Literacy indicated that the
average digital financial literacy score across all participating countries and economies was 53 out...
|3
hand, behavioural biases, in particular “fear of missing out” and herding behaviour, can drive crypto-asset
ownership (Gerrans, Abisekaraj and Zhangxin, 2023;21;; Almeida and Goncalves, 2023)22))....
The use of blockchain technology means that
transactions are irreversible, with no possibility of recovering funds in case of mistakes, scams
or frauds. Moreover, transactions on most blockchains are ...
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Note: These results should be interpreted with caution, as they are based on a small num...
In Italy, the Italian Companies and Exchange Commission (CONSOB) developed a financial literacy
initiative on crypto-assets The moment is cri(p)tic, part of CONSOB’s edutainment programme mixing
thea...
These competence frameworks promote a shared understanding of the financial competencies adults need
to make sound decisions when it comes to crypto-assets, and should inform the design of public poli...
Investing Aware of the existence of different types of __If relevant, knows how to use different Keeps abreast of developments related
crypto-assets and has a basic types of crypto-assets safely and i...
risks without being unduly influenced by
marketing or news items (avoiding
availability bias). Confident to revoke authorisations to
IMPROVING THE DIGITAL FINANCIAL LITERACY OF CRYPTO-ASSET USERS © O...
Digital financial literacy can help individuals understand the characteristics, opportunities and risks of
crypto-assets. Policy makers, regulators and other stakeholders should explicitly address cry...
IMPROVING THE DIGITAL FINANCIAL LITERACY OF CRYPTO-ASSET USERS © OECD 2025 |7
References
Almeida, J. and T. Goncalves (2023), “A systematic literature review of investor behavior in [22]
the cryptocu...
(2023), “Crypto and financial literacy of cryptoasset owners versus non- [18]
owners: The role of gender differences”, Journal of Financial Literacy and Wellbeing,
Vol. 1/3, pp. 514-540, https://doi....
European Union/OECD (2023), Financial competence framework for children and youth in the [30]
European Union, https://doi.org/10.2874/297346. European Union/OECD (2022), “Financial competence framewor...
Zhangxin (2023), “The fear of missing out on cryptocurrency _‘[21]
and stock investments: Direct and indirect effects of financial literacy and risk tolerance”,
Journal of Financial Literacy and Wellb...
OECD (2024), G20 policy note on financial well-being, OECD Publishing, Paris, [15]
https://doi.org/10.1787/7332c99d-en. OECD (2024), OECD/INFE survey instrument to measure digital financial literacy, ...
OECD (2022), “Institutionalisation of crypto-assets and DeFi—TradFi interconnectedness’”, [25]
OECD Business and Finance Policy Papers, No. 01, OECD Publishing, Paris,
https://doi.org/10.1787/S5d9ddd...
Securities and Exchange Commission (2024), Investor Bulletin: Technology and Digital [6]
Finance, https:/Awww.investor.gov/introduction-investing/general-resources/news-
alerts/alerts-bulletins/invest...
IMPROVING THE DIGITAL FINANCIAL LITERACY OF CRYPTO-ASSET USERS © OECD 2025 10 |
This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed and argume...
The information in this document
relates to the area under the effective control of the Government of the Republic of Cyprus. © OECD 2025
Attribution 4.0 International (CC BY 4.0)
This work is made ...
You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work. Any dispute arising under this licence shall be settled by ...
IMPROVING THE DIGITAL FINANCIAL LITERACY OF CRYPTO-ASSET USERS © OECD 2025