Switzerland Approves Crypto Tax Data Sharing with 74 Nations
Fhumulani Lukoto
- 2 min read
Key Takeaways
Global Crypto Tax Transparency:
Switzerland has agreed to adopt the OECD’s Crypto-Asset Reporting Framework (CARF) and commit to automatically sharing crypto-related tax information with 74 partner countries starting in 2027.
Scope and Exemptions:
The agreement covers major jurisdictions, including the EU, the UK, and most G20 countries, but it excludes the United States and Saudi Arabia from the exchange framework.
Impact on Swiss Financial Privacy:
The move marks a shift from Switzerland’s traditional financial secrecy, aligning with international tax transparency efforts and potentially affecting its competitive edge as a crypto-friendly hub.
Switzerland has taken a significant step towards enhancing global tax transparency by approving a bill to exchange information on crypto assets with 74 countries automatically.
Overview
On June 6 2025, the Federal Council, the government of Switzerland, announced that it had adopted a bill to enable the automatic exchange of information (AEOI) on crypto with partner countries. This move aligns with the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) and is set to be enforced by January 2026. The first data exchanges are anticipated in 2027.
Expanding the Automatic Exchange of Information
The Swiss Federal Council’s decision extends the existing Automatic Exchange of Information (AEOI) framework to encompass digital assets. This framework requires Crypto-Asset Service Providers (CASPs) to collect and report user data, including tax residency and identification numbers, to the Swiss Federal Tax Administration.
This information will be shared with partner countries to aid tax compliance and monitoring. The 74 countries participating in this initiative include all European Union member states, the United Kingdom, and most G20 nations. Notably, the United States and Saudi Arabia are excluded from this agreement.
Implications for Switzerland’s Financial Landscape
Historically known for its banking secrecy, Switzerland has been under increasing international pressure to enhance financial transparency. This move to include crypto assets in the AEOI framework signifies a shift towards greater openness in the Swiss financial sector.
While this initiative aims to combat tax evasion and align with global standards, some industry leaders express concerns about its potential impact on Switzerland’s competitiveness as a financial hub. Thomas Schinecker, CEO of Roche Holding AG, cautioned against adopting tax policies that mirror those of higher-tax countries, suggesting that Switzerland should instead strive to remain competitive with nations like China, Dubai, and India.
Global Context and Future Outlook
The adoption of CARF by Switzerland reflects a broader international effort to address the challenges posed by the digitalisation of the financial sector. With over sixty jurisdictions committing to implement CARF, there is a clear trend towards increased regulation and oversight of crypto assets.
As Switzerland prepares to implement this new framework, stakeholders in the crypto industry will need to adapt to the evolving regulatory landscape. The success of this initiative will depend on effective collaboration between governments, financial institutions, and crypto service providers to ensure compliance and maintain the integrity of the global financial system.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.