Crypto Valley Association Issues Guidelines to Protect Digital Assets

The Crypto Valley Association (CVA), based in Switzerland, has published its “Trusted Key Ceremony Guidelines” a set of best practices designed to help protect digital assets in a safe and secure manner. The project was driven by the CVA’s Cybersecurity Working Group.

The CVA has previously published a Code of Conduct for the digital asset industry.

Switzerland has emerged as a leading jurisdiction for the digital asset industry. A combination of crypto-entrepreneurs and a supportive regulatory environment has helped to foster the emerging sector of Fintech.

The guidelines will be officially unveiled during a free online event called “Demystifying Key Ceremonies” hosted by the CVA’s Cybersecurity Working Group. The virtual event is scheduled to take place tomorrow (Tuesday, July 7th) at 17:00 CET. Participants in the event include digital asset custody provider Taurus Group and Ledger Vault, auditing firm PwC, and blockchain organizations and financial institutions such as SEBA Bank.

The virtual event will be moderated by Emi Lorincz with the following panelists: Charles Guillemet, Chief Technology Officer at Ledger; Maria Sommerhalder, Senior Associate of Emerging Technologies Risk Assurance at PwC Switzerland; Jean-Philippe Aumasson, Head of Security at Taurus Group and Co-Chair of Cybersecurity Working Group at CVA; and Vassili Lavrov, Head of Blockchain Program Management at SEBA Bank.

Markus Perdrizat, Chair of Cybersecurity Working Group at CVA and Head of Blockchain Risk Assurance at PwC Switzerland, commented on the initiative:

“With more and more financial assets locked up in cryptocurrencies, the need for a set of best practice standards regarding key ceremonies for cryptocurrencies has never been more pronounced. Ultimately, the security of financial assets begins with the key ceremony – when the cryptographic secrets are created. From that point forward, the highest standards of security must be upheld. To this end, we are delighted to officially unveil our new guidelines to the world.”

The mission of CVA’s Cybersecurity Working Group is to define and drive the adoption of industry standards and best practices for blockchain projects and to promote their adoption on the global market.

Emi Lorincz, Board Member at the Crypto Valley Association added:

“The CVA Cybersecurity Working Group is firmly committed to setting the highest security standards and best practices with regard to product development, security audits, and key management within the blockchain and crypto realm. The publication of the Trusted Key Ceremony Guidelines gives expression to this ongoing effort and captures the far-reaching ambition of the CVA to strengthen security levels in the cryptoassets space more broadly, and to extend the accessibility of cryptoassets.”

Perdrizat explained that until now there have been no clear standards or guidelines available regarding custody and holding of digital assets. He said that by leveraging the deep insights and acumen of the CVA’s Cybersecurity Working Group, they have collated what they consider to be the best practices for new entrants and experienced practitioners in the space to create safe and secure key ceremonies, while also providing a framework to improve existing processes.

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