Monthly Archives

September 2018

Weekly Twitter Summary (2018-09-16 – 2018-09-22)

By | Public Announcements

CVA Board Expanded

By | Public Announcements

The Crypto Valley Association (CVA) General Assembly has elected Jenna Zenk and Maria Gomez as new members to the Board.

Zug, 21.09.2018 – The Crypto Valley Association is pleased to announce the election of Jenna  Zenk, CTO of Zug-based startup Melonport and Maria Gomez, lead for ecosystem development efforts at blockchain-based project Aragon as the newest members of the Board. The election is the result of the decision of the General Assembly in June to expand the Association’s Board by two places to be chosen from among the CVA’s female members. The expansion was suggested as a direct initiative by CVA members and will serve to strengthen the Association through a diversity of perspectives, experience and skills.

The role of the Board members includes co-chairing the CVA Working Groups, receiving international delegations, interacting with other Swiss and international organisations, presenting the CVA and Crypto Valley at external events and supporting the CVA’s own local and international initiatives.

Ms. Zenk has a dual background in finance (hedge funds) and tech as a programmer and chief technology officer. “I am excited to join the CVA board to represent the voice of the crypto startups and technologists in their efforts to build cutting-edge technology and drive innovation forward. I am also honored to represent the Crypto Valley in Switzerland and abroad.”

Aragon’s Ms. Gomez has a background in corporate and finance law and has been working on business development, operations and strategy in several leading crypto organizations. “I’m happy to join the Board and have the opportunity to help build a strong, diverse and international ecosystem where the values and vision of the projects, teams and people working on open, neutral, borderless and censorship resistant blockchain technologies are represented,” she said.

CVA President Oliver Bussmann is also looking forward to working with the two new Board members. “We are thrilled to have found two competent and committed new Board members, who are equally committed to the success of Crypto Valley and will help us continue our efforts.”



CVA Statement on Swiss Banking Association Guidelines

By | Articles, CVA in the News

Swiss Bankers Association – with support from the Crypto Valley Association – has developed guidance for Swiss banks opening bank accounts for crypto & blockchain companies.

The Crypto Valley Association (CVA) welcomes the issuance of new guidance from the Swiss Bankers Association (SBA) to its members, regarding the treatment of blockchain-based companies in the country. The new guidance directed to member banks of the SBA is intended to provide increased clarity and assurance and remove barriers to the growth of the Swiss blockchain ecosystem.

The guide, an initiative of the SBA and developed with the input and assistance of the CVA Regulatory Working Group, makes key distinctions between blockchain-focused companies seeking to raise capital through an Initial Coin Offering (ICO) and those who do not. According to the outline, companies which do not fundraise through an ICO should be treated no differently than regular Small Medium Enterprises (SMEs). Further distinction regarding documentation needed is made between ICOs carried out with fiat currencies and those using cryptocurrencies. The guide has been welcomed by FDF, the Federal Department of Finance, and FINMA, the Swiss Financial Market Supervisory Authority.

Oliver Bussmann, President of the Crypto Valley Association, welcomed the announcement, saying “We have seen a lot of positive growth in the ecosystem over the past 18 months and now it was very important that the SBA, CVA and authorities could come together and successfully work on a solution that can ease some of the restrictions that could hamper the continuation of that growth.”

Dr Mattia Rattaggi, who chairs the CVA Regulatory Working Group, added, “This guide is an important and timely contribution. As a multi-stakeholder organization it was important for us at the CVA to bring a diverse range of perspectives and expertise to the table for the development of these guidance and we hope that it will benefit the healthy advancement of the crypto/blockchain industry in Switzerland.”

Switzerland has gained a world-wide reputation as a popular destination for crypto and blockchain companies. In 2017, four of the ten largest ICOs were conducted in Switzerland. In 2018 the country continues to rank among the most attractive places for blockchain companies.

Read the SBA announcement here.

Crypto meets VAT in Switzerland

By | Articles
Work on the draft VAT guidance on cryptocurrencies by the Swiss Federal Tax Administration (SFTA) has concluded after intense and diverse discussions in the VAT and crypto community. The CVA Working Group Tax / Accounting / Structuring (CVA WG TAS) has gladly taken the opportunity to be involved in this discussion and to promots the active exchange between the CVA WG TAS, authorities, CVA members and crypto community as well as a sustainable opinion formation. Although still working on reaching a state of consensus within various topic leaders, individual members of the CVA TAS have already responded or are currently finalizing their statements to the SFTA.
In light of the general importance of this topic for the entire crypto community and to showcase the progress achieved by the members of the CVA WG TAS in the last couple of weeks, the CVA WG TAS will be hosting a dedicated meetup “Crypto meets VAT Switzerland” on Tuesday, 25 September 2018, 11 AM at MME Zurich (Zollstrasse 62, 5th floor).
Please find further information here.

Weekly Twitter Summary (2018-09-09 – 2018-09-15)

By | Public Announcements