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Switzerland Needs To Be More Open To Crypto Sphere – Opinion

12:32 06/02/2019
Swiss Crypto Valley Association To Implement New Crypto Projects

The continuous crypto market downtrend has seriously affected Switzerland as a country that has positioned itself as the world leader in the crypto sphere and blockchain, Daniel Haudenschild, the president of the Swiss Crypto Valley Association (CVA), stated in an interview with Swissinfo.

 

Haudenschild assumed his duties as the CVA's head on January 31, 2018. His main task is to maintain the country's position as the leader of the crypto industry, it should attract interest of crypto companies and develop blockchain projects.

 

The CVA states that the crypto market fall has caused a capital deficit of billions of francs. Because of this, the implementation of numerous promising ideas is delayed, since there is a shortage of funds. Currently they need to overcome these problems and regain investors’ confidence, Haudenschild believes.

 

After the appointment of the new leader, some changes will occur in the Association. First, there will be absolute intolerance towards people who want to make themselves richer by using the CVA image. The Association, unfortunately, stopped lobbying its interests in the country's parliament, suspended attraction of investments, talented developers, and businessmen for the improvement of the crypto sphere.

 

Capital and talent can subtly feel the situation, Haudenschild stressed. If conditions cannot be changed for the better, they will go to new markets, to other countries. Some investors have already moved to the UK, the Netherlands, and Germany. Malta and the island of Jersey are considered as the best jurisdictions for the development of blockchain projects.

 

More active interaction should be established with legislators and regulators. Switzerland should become open to investment and blockchain projects, the head of the CVA concluded.

 

As previously reported, electronic signatures on blockchain will be recognized in Switzerland.

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