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Monthly Archives

November 2017

Crypto Valley Association Welcomes KPMG as First Strategic Partner

By | Public Announcements

Zug, Switzerland – 16 November, 2017 – The Crypto Valley Association (CVA) is proud to announce that KPMG Switzerland is joining the CVA as its first Strategic Partner.

A leading provider of audit, tax and advisory services, KPMG Switzerland is an innovator in the area of digital transformation. Its Initial Coin Offering (ICO) and Blockchain specialists already operate from the heart of Zug’s Crypto Valley, where they effectively help credible blockchain and cryptocurrency start-ups navigate the ICO process, structuring and compliance in Switzerland and abroad.

With KPMG Switzerland as its Strategic Partner, the CVA is forming a new Tax, Accounting and Structuring Working Group as well as a Cyber Security Working Group, both to be chaired by KPMG.  

Oliver Bussmann, President of the Crypto Valley Association, said: “We are delighted to welcome KPMG as a Strategic Partner. Tokenization is adding whole new dimensions to taxation and accounting, and developments in these areas will be of crucial interest to our members and startups going forward. As one of the world’s leading firms in tax, accounting and structuring, as well as the associated cyber risks, KPMG has the perspective and expertise to provide useful insight and support.”

Frank Lampert, Partner Tax and responsible for KPMG’s blockchain and crypto business, said: “Blockchain technology is set to revolutionize many aspects of business, industry and society. We are proud to actively contribute to the success of digital Switzerland through a strategic partnership with the CVA.”

CVA President Bussmann added: “This announcement marks a significant milestone for our organization. Over the past six months the CVA has enjoyed explosive growth, far surpassing our expectations. While welcome, this growth has stretched our resources. Our new Strategic Partners will help us build a more solid foundation. The financial assistance and expertise of our sponsors will allow us to professionalize our setup and provide our members with increased services and support. Sponsorships will also help us keep the cost of membership for individuals and startups affordable.”

2018 Membership Fees

By | Member Only Announcements
NEW MEMBERSHIP CATEGORIES

At the interim general assembly on October 13th we decided on the budget 2018 as well as the new membership structure and fees. This is the basis for our future expansion and the next step to professionalize the association in accordance with the increased demands from members and other interested party.  The presentation and minutes were distributed shortly after the event.

The new membership categories are:

  • Individual 100 CHF
  • Corporate small (less than 20 people) 500 CHF
  • Corporate medium (less than 150 people) 2’500 CHF
  • Corporate large (more than 150 people) 5’000 CHF
  • NGO/Association 500 CHF

Accordingly, we have to make the following changes to the articles 5 and 10.

Article 5 – old:

Every Member has to pay an annual fee of CHF 100.-. Membership fees will be due on demand for payment and shall be paid within 30 days.

Article 5 – new:

Every Member has to pay an annual fee. Membership fees will be due on demand for payment and shall be paid within 30 days. The annual membership fees will be proposed by the board and approved at the annual general assembly.

Article 10 – old:

The General Assembly shall have the following powers:

Approve the annual report, the annual financial statements and the report of the auditors
Resolutions discharging the Board and the Auditors
Determination of the annual budget
Election of the President, the other Board members and the Auditors
Handle motions of the Board and the members, handle appeals
Amend the Articles of Association
Dissolve the Association

Article 10 – new:

The General Assembly shall have the following powers:

Approve the annual report, the annual financial statements and the report of the auditors
Resolutions discharging the Board and the Auditors
Determination of the annual budget
Election of the President, the other Board members and the Auditors
Handle motions of the Board and the members, handle appeals
Approve annual membership fees
Amend the Articles of Association
Dissolve the Association

FOR MEMBERS JOINING BEFORE 24 NOVEMBER 2017

Association membership payments are for a calendar year, but as we were getting started in 2017, we opted for simplicity.  As such,the Board chose to (a) charge the same fee of just 100CHF for individuals, corporates and NGOs and (b) not to calculate the real pro-rata amount due based on joining date.  Instead, spending our time on other more important activities of growing the community.

Following the Interim General Meeting, the members voted to amend the membership fees.  And therefore the effect of the pro rata calculation on the first year membership fee becomes more significant.  This has led to the need for a more robust mechanism which subsequently became the need for a new website that can support such payments via both credit cards and crypto currencies.  Of course, we’ve taken this opportunity to make the materials more accessible online as well.

WHAT THIS MEANS FOR YOU?

All members will receive a membership renewal request in January 2018, with the full year amount due.

Given the change in corporate member fees and structure, corporate members will see that their membership has been cancelled as of the December 31st 2017.  Corporate members are invited to select the appropriate new level of membership when paying their 2018 dues in January.

Those that joined before November 24th 2017, who paid a non pro-rated annual membership fee, will receive an email in December with a coupon code that you can use against Their 2018 membership fee that takes into consideration your 2017 joining date.  These are:
Members joining in Q1: CHF 12.50
Members joining in Q2: CHF 37.50
Members joining in Q3: CHF: 62.50
Members joining in Q4 (before November 24th): CHF 87.50
The coupons expire at the end of January 2018
Coupons will be sent to the email address that we have on record against your member profile.  For some people this is different to the email address associated with payment.  Therefore please check if you have not found your coupon.

GOING FORWARDS

We only need to go through this process once.  All people joining the Association in 2018 will be charged a pro-rata rate for their first year of membership.  And all members will be asked to pay their membership dues on January 1st for each new calendar year.