Johann Schneider-Ammann, who served as the President of Switzerland in 2016, recently joined the board of Crypto Valley Venture Capital, or CV VC. CV VC is a startup that invests in crypto firms near Zug, Switzerland, the “crypto valley” of the namesake firm.
Beyond the crypto valley
Switzerland is known in the crypto community for its welcoming system of regulation, with local watchdog Finma among the most progressive in the world. Schneider-Ammann explained the advantages of the Swiss system:
“The flexible Swiss legal system allows existing, abstractly formulated laws to be applied to new challenges with little effort.”
The description indeed resembles aims published recently by the head of a major United States regulator. As an example, Schneider-Ammann pointed to Switzerland’s relationship to initial coin offerings (ICOs) — a contentious subject in much of the rest of the world. He explained that Switzerland, by issuing guidance in 2018, “became one of the first authorities to formalise this process.”
Change in recent years
Shneider-Ammann noted a major increase in crypto activity since his term as president: