Oliver Bussmann and three other directors of a crypto valley group are stepping down next month. The move follows bitter differences within the board.
Oliver Bussmann, Vasily Suvorov, René Huesler, and Nicolas Schobinger won't stand for re-election to the Crypto Valley Association, a Zug-based lobby group for the digital token industry, the four said in a statement on LinkedIn.
Bussmann was at the center of the differences at the two-year-old lobby group over its future direction. The board members had disagreed over whether to reap commercial benefit from the body, or to maintain it as a network-based utility. The disagreement grew so bitter that the association hired a law firm to help, a source familiar with the matter told finews.com.
Committed to Crypto Community
Bussmann, the former tech boss at UBS, Surorov, Huesler, and Schobinger made no reference to the strife in their statement. Instead, they said that they collectively felt it in the best interest of the group to bring on new perspective for crypto valley's next phase of development.
«We are committed to allowing the work of the Crypto Valley Association [to] move forward, facilitating a smooth transition towards the new board, and ensuring the longevity of the ecosystem and the wonderful community that has built up around us,» the four said.
3,000 Jobs Created
The group was founded as a non-profit organization to coordinate and promote the development of Zug as a hub for cryptocurrencies and blockchain. The lakeside town roughly 30 kilometers south of Zurich has attracted hundreds of burgeoning token firms – as well as a fair amount of scandal on projects like Tezos and Cardano. The Crypto Valley Association was also criticized for failing to adequately represent women in blockchain.
The group has 1,200 members and claims to have created 3,000 jobs in the region, either directly or indirectly. The remaining board members are entrepreneur Søren Fog, Melonport tech boss Jenna Zenk, and securities lawyer Maria Gomez.
