More and more effects of the current crypto bear market are being felt as Daniel Haudenschild, the newly elected president of the Swiss Crypto Valley Association (CVA), has announced that the hardship being faced by the crypto market has impaired Switzerland’s stand as one of the major blockchain centers in the world.

The new president has expressed his desire to

“heal divisions to prevent Switzerland losing any more ground to other countries”

with regards to acquiring more blockchain tasks.

Haudenschild said that he intends to do as much as he can to “bring back investors” noting that because the bear market has caused a wide gap in capital in multiple billions of francs, many great innovators and stakeholders can no longer work on any of their innovations because there simply is little or no proper capital backing.

Haudenschild’s Plans For The Crypto Valley Association

The just-elected president has also promised to make a few improvements in the association’s mode of operation. One of the changes is that

“there will be a zero-tolerance approach to people who try to enrich themselves on the back of the CVA brand.”

He noted also, that he plans to make sure that Switzerland will in no time become the prime location for blockchain businesses and enterprises. He said:

“We need a change in our laws and [sic] that requires more interaction with lawmakers and regulators. We need to make Switzerland open and easy for companies to invest in blockchain projects.”

Haudenschild, who suddenly left his position as the CEO of Swisscom’s blockchain advisory unit, has a lot more plans for the future of crypto, especially in Switzerland. However, despite the bear market, more and more blockchain firms are springing up in Switzerland and Liechtenstein.

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