Switzerland has delayed the automatic exchange of crypto account information with foreign tax authorities until at least 2027, even as it finalizes the legal framework for such reporting.
The updated rules, set to take effect on January 1, 2026, remain on track, but the practical start of data sharing will hinge on agreements with partner jurisdictions.
At a recent meeting, the Federal Council approved changes to the ordinance governing Switzerland’s participation in international tax information exchange. These adjustments implement the 2025 parliamentary decision to align Swiss reporting with global standards set by the OECD, including the new Crypto-Asset Reporting Framework (CARF).
If no referendum blocks the changes, the framework will formally enter Swiss law next year.
New compliance obligations for crypto service providers
The updated rules require crypto service providers with significant links to Switzerland to register, perform customer due diligence, and report relevant client data. The ordinance also expands coverage to certain associations and foundations, while providing exemptions for entities meeting specific criteria. Transition measures aim to give firms time to adjust to the new regime.
While CARF establishes clear obligations, implementation will remain on hold until Switzerland finalizes the list of partner countries with which data will be exchanged.
On November 3, 2025, the Economic Affairs and Taxation Committee of the National Council suspended work on confirming these partners, effectively postponing the start of data sharing.
CARF becomes law but remains dormant
Legally, CARF will be in force from January 2026, but Swiss authorities will not begin exchanging crypto tax information until agreements with compliant jurisdictions are in place. The earliest operational start date is now projected for 2027.
Switzerland had aimed to integrate crypto into its international tax reporting framework last year, consulting on a bill to enable information sharing with 111 participating jurisdictions.
Once operational, the plan anticipates data exchanges with 74 countries that meet CARF standards and demonstrate reciprocal interest. This includes EU member states, the UK, Japan, Australia, and Canada. The United States, China, and Saudi Arabia are currently excluded due to misalignment or pending agreements.
Switzerland’s broader crypto landscape in 2025
Earlier this year, the Swiss Federal Council launched a consultation to modernize the Financial Institutions Act. The aim is to create clearer categories for crypto‑asset service providers and stablecoin issuers, replacing the older fintech license regime. This update seeks to integrate blockchain‑based payments and tokenized assets more seamlessly into the country’s financial infrastructure, providing legal certainty for both banks and startups.
Meanwhile, Switzerland is pioneering practical applications of blockchain for trading. The Swiss subsidiary of the Stuttgart Stock Exchange, BX Digital, received approval to operate a blockchain-based trading platform. The system will facilitate on‑chain settlement of tokenized securities, including shares, bonds, and funds directly within the regulated banking ecosystem.
At the same time, the Swiss National Bank maintains a cautious stance on crypto as a reserve asset. It rejected proposals to include Bitcoin or other cryptocurrencies in official reserves, citing volatility and liquidity concerns.
Gunel Ismayilova
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