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Switzerland’s government has approved a groundbreaking bill requiring crypto firms to report customer digital asset data to Swiss tax authorities, who will share this information with 74 partner countries starting in 2027. The law, adopted on June 6, 2025, takes effect on January 1, 2026, marking a significant step toward international tax transparency in the crypto sector.
Key Elements of the Plan
- From January 1, 2026, crypto-service providers in Switzerland must record details such as customer names, addresses, tax IDs, and crypto holdings.
- The Swiss tax authorities will review and verify this data before exchanging it with partner countries in 2027.
- The exchange is limited to jurisdictions that comply with the OECD’s Crypto-Asset Reporting Framework (CARF), ensuring data protection and transparency standards.
Participating Countries and Exclusions
The 74 partner countries include all 27 EU member states, the United Kingdom, and most G20 nations. However, major economies like the United States, Saudi Arabia, and China are excluded because they have not yet adopted the CARF standards.
Oversight and Compliance
Swiss authorities will rigorously assess each partner country’s adherence to CARF rules before data sharing. If a government fails to meet requirements, data exchange will be suspended until issues are resolved. This mirrors the current checks applied to bank account information.
Implications for Crypto Firms
Crypto firms operating in Switzerland will face new compliance responsibilities starting in 2026. They must collect detailed customer data and submit it to Swiss tax authorities. Under the EU’s Directive on Administrative Cooperation (DAC 8), Swiss firms will also report directly to EU states until all necessary data-protection agreements are finalized.
The move aligns crypto asset reporting with traditional financial account transparency, bolstering Switzerland’s commitment to international tax compliance and safeguarding the reputation of its financial sector.
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