The Crypto Valley Association announced its strategic objectives and action plan at its Extraordinary General Assembly yesterday. The CVA Board, whose five new members were elected in January, underlined the need to facilitate blockchain and fintech startups in their funding and implementation goals while maintaining a focus on supporting the overall development of the technology. The Association supports the launch of an independent crypto-friendly Self-Regulatory Organisation (SRO) with a own-developed project plan and cooperates with the Swiss Bankers Association (SBA) in their effort to issue updated Guidelines on opening corporate accounts for blockchain companies. These and other projects will further help the ever-growing number of startups in Switzerland’s Crypto Valley while following on the trend towards a maturing ICO/STO market as revealed in a recent report co-published with PwC/Strategy&.
With more than 1’200 members from over 20 countries, the Crypto Valley Association continues to grow and expand as the global blockchain ecosystem continues to mature. At its Extraordinary General Assembly today, the CVA announced its strategic objectives and action plan to support its members while contributing to the healthy development of the businesses and the technology.
The recent report on Initial Coin Offerings (ICO) and Security Token Offerings (STO) published jointly by the Crypto Valley Association along with PwC Switzerland and Strategy& indicates a continued trend away from utility token offerings with a stronger emphasis on the more-regulated security token space. At the same time, there is a growing emphasis on the non-financial applications of blockchain technology.
In view of these trends, the CVA’s initiatives include the support of the implementation of an independent crypto-friendly Self-Regulatory Organisation, for which the Association has created a project plan, and the collaboration with the Swiss Bankers Association (SBA) in their effort to produce updated Guidelines on opening corporate accounts for blockchain companies.
The CVA is also committed to internationalise its member base as well as the greater Swiss ecosystem, while cooperating strategically with a wide range of stakeholders. It is also committed to developing a “members’ market-place” in order to help increase the flow of capital into the growing industry.
Finally, the Association will continue to cooperate formally with the Lucerne University of Applied Sciences in the organisation of the blockchain technology-focused Crypto Valley Conference and aims to strengthen the industry and advance the technology through development of best practices and promotion of thought leadership.