- Switzerland has one of the most unique and well-established relationships with crypto in the world; it’s known as one of the most crypto-friendly nations.
- Switzerland’s Federal Council plans to roll out the new law on automatically sharing crypto tax data with 74 countries by late 2026.
In February 2025, Switzerland’s government (the Federal Council) published its plan to adopt the OECD’s Crypto-Asset Reporting Framework (CARF). On June 6, the Federal Council approved the next step: a formal proposal to initiate the implementation of this automatic data exchange.
The Federal Council of Switzerland has adopted a bill to enable the automatic exchange of information (AEOI) on cryptocurrencies with partner countries. The plan will commence the exchange of information on cryptoassets with 74 partner countries from January 2026. The first exchange of data is scheduled for 2027, contingent upon mutual agreement and adherence to OECD standards.
Crypto Privacy to Global Transparency
Until now, crypto wasn’t always included in these global tax data exchanges. Many people used Swiss crypto services, thinking the data would remain private. Now, crypto holdings in Switzerland could soon be reported to tax authorities abroad.
This includes the United Kingdom and all European Union member states. According to an X post by the Swiss Federal Government, the proposal also suggests sharing the data with most G20 countries, which include Australia, Brazil, Canada, France, Germany, India, and Indonesia. The measure excludes the United States, Saudi Arabia, and China.
Switzerland isn’t about to share data. Before any exchange occurs, partner countries must first demonstrate that they meet strict international transparency standards, and Switzerland will regularly review whether they continue to meet these standards.
The process will mirror the exact review mechanism the country already uses for sharing traditional banking data, ensuring that crypto information is only exchanged with trusted, compliant nations. Switzerland will only exchange crypto data if the partner country also wants to exchange data.
The EU, for example, is adopting this system through its new DAC 8 directive, so Switzerland will need to align with this to exchange data with EU countries. The report reads, “To this end, the existing review mechanism for the AEOI on financial account information should in future also cover the AEOI concerning cryptoassets, which requires the corresponding federal decree to be amended accordingly.”
This move is likely to have a big impact on the cryptocurrency industry, both within Switzerland and around the world, by helping to create a more transparent and trustworthy environment. Switzerland’s stance on crypto regulation and its efforts to stay in line with global standards demonstrate a clear commitment to integrating digital assets into its financial system in a responsible manner. By working with industry players and maintaining transparency at the forefront, Switzerland is well-positioned to set an example for other countries, striking a thoughtful balance between fostering innovation and ensuring accountability.
Bitcoin Initiative
As previously reported by CNF, a group of Swiss cryptocurrency advocates, led by entrepreneur Yves Bennaïm, launched the Bitcoin Initiative in December 2024. The group now has 18 months to collect 100,000 signatures to bring the proposal to a national referendum. If successful, a “Yes” vote would amend Article 99, Paragraph 3 of the Swiss Constitution, which currently states: “The Swiss National Bank shall provide adequate reserves from its incomes in currency; some of these shall be stored in gold.”
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