Switzerland Postpones Cryptocurrency Data Exchange
Switzerland has decided to postpone the automatic exchange of information regarding cryptocurrency accounts with foreign tax authorities, now targeting a start date no sooner than 2027. Meanwhile, the nation will establish the necessary legal framework to facilitate such exchanges effective January 1, 2026.
Modifications to Tax Data Exchange Ordinance
On Wednesday, the Federal Council approved modifications to the ordinance that dictates Switzerland’s involvement in the international exchange of tax data. These revisions, which aim to align with the updates mandated by the OECD, will take effect at the beginning of 2026 after securing parliamentary approval during the autumn 2025 session.
The law’s update introduces new compliance and due diligence standards specifically for crypto service providers. Companies offering crypto-related services will be required to:
- Register
- Report pertinent client information
- Conduct fundamental checks on users who exhibit sufficient connections to Switzerland
Additionally, while expanding the scope of the law to include more organizations, certain exemptions will apply to entities that fulfill specific criteria. Transition measures will also be incorporated to afford businesses the necessary time to acclimate to these new reporting obligations.
Delay in Data Sharing Arrangements
However, a significant political decision led to a delay in the actual implementation of data sharing arrangements. On November 3, 2025, the National Council’s Economic Affairs and Taxation Committee halted progress regarding the list of partner countries for the exchange of data under the Crypto-Asset Reporting Framework (CARF). Consequently, even though CARF will be enshrined in law in January 2026, the framework will remain inactive until Switzerland finalizes agreements with its international partners.
Challenges Ahead for Switzerland
This postponement marks a challenge for Switzerland, which had spent the previous year preparing to incorporate cryptocurrencies into its global tax transparency initiatives. The Federal Council had initiated a consultation process related to a bill intended to facilitate information sharing with 111 jurisdictions participating in automatic data exchange, contingent upon their adherence to CARF standards.
Switzerland anticipates that once operational, it will exchange tax data on cryptocurrencies with 74 countries that align with CARF criteria and express mutual interest, including all EU member states, the UK, and several G20 nations like Japan, Australia, and Canada. Notably absent from this list are the United States, China, and Saudi Arabia, which have yet to establish necessary agreements or do not comply with CARF requirements.
