Swiss Crypto Valley Association Leadership Steps Down After Governance Review

More than half of the members of Switzerland’s Crypto Valley Association (CVA) board have announced their decision to step down in January. The news comes after reports about governance issues and allegations of conflicts of interest in the leadership of the growing organization.

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Four CVA Board Members to Step Down

The announcement comes amid concerns about the future direction of development of the crypto sector in Switzerland. According to Swissinfo, the main challenge is to find the right balance between promoting the potential social impact of crypto and blockchain technology and its commercial exploitation.

The CVA board will be reshuffled after it was recently expanded to seven members. In September, the association elected two female board members in order to diversify its male-dominated leadership. The decision came in response to accusations that it had become an “old boys’ club.” The two women, María Gomez and Jenna Zenk, are not stepping down.

Independent Governance Review Conducted

The now sole remaining male member of the current board, Soren Fog, raised questions about the governance of the association during the CVA General Assembly meeting in June. He warned about what he described as a “conflict of interest in the leadership”, calling for more accountability and an independent audit.

According to the CVA board president, the independent governance review was proposed to address a need to adapt the structure of the association. CVA, which was established in January of 2017, has seen a rapid growth and now has over 1,200 members, Oliver Bussmann noted.

“The CVA has recently consulted the association members regarding the governance review report. We will present the result and proposed changes in the General Assembly at the end of January 2019,” the official added.

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