Switzerland is moving forward with the legal framework for sharing cryptocurrency tax information with foreign authorities but won’t begin the actual data exchange until 2027 at the earliest. The country’s Federal Council has approved the necessary ordinance changes, which are set to take effect on January 1, 2026, provided no public referendum blocks the move.

The decision officially integrates global crypto reporting standards into Swiss law, a step previously backed by Parliament. This development aligns Switzerland with tax transparency goals established by the Organisation for Economic Co-operation and Development (OECD).

New Compliance Rules for Crypto Service Providers

Once enacted, the updated regulations will introduce clear compliance and due diligence requirements for crypto firms with a significant connection to Switzerland. These service providers will be mandated to register with authorities, perform essential customer checks, and report relevant client data.

The legal changes also broaden the scope of reporting to include more associations and foundations, though specific criteria for exemptions will apply. The framework includes transition measures to give affected firms adequate time to adapt to the new regime.

Political Hurdles Postpone Implementation

Although the legal architecture will be in place, a key political decision has postponed its activation. The rules based on the OECD’s Crypto-Asset Reporting Framework (CARF) will remain dormant until Switzerland finalizes a list of partner jurisdictions for the data exchange.

This delay stems from a decision by the National Council’s Economic Affairs and Taxation Committee to suspend its work on approving the list of partner states. As a result, while the CARF will be written into law, its practical implementation is on hold, pushing the earliest possible start date to 2027.

Aligning with Global Transparency Efforts

The delay marks a setback in the timeline for major economies to align on crypto tax transparency. Switzerland had been preparing to share crypto asset data with 111 jurisdictions that already participate in automatic information exchange, contingent on their compliance with CARF.

The long-term plan is for Switzerland to exchange crypto tax data with 74 nations that meet the standards and demonstrate reciprocal interest. This group includes all European Union member states, the United Kingdom, and most G20 countries, such as Japan, Australia, and Canada. However, the United States, China, and Saudi Arabia are not currently included, as they are either not aligned with CARF or lack the necessary agreements.