Switzerland’s legendary reputation as a financial privacy haven is about to take a dramatic turn in the crypto realm. The nation’s Federal Council has approved legislation that will automatically share crypto-related tax information with 74 countries starting in 2027, marking a significant departure from the country’s traditional secrecy practices.
This move positions Switzerland at the forefront of global efforts to combat crypto tax evasion while fundamentally reshaping its role in the international financial system.
The bill, approved on June 6, will take effect on January 1, 2026, requiring Swiss crypto service providers to begin collecting and reporting detailed information about their clients’ holdings and transactions. The automatic exchange of information (AEOI) framework will encompass all European Union member states, the United Kingdom, and most G20 countries, creating an unprecedented level of transparency in the crypto sector.
However, three notable exceptions stand out in this comprehensive data-sharing agreement. The United States, China, and Saudi Arabia will not receive Swiss crypto data, highlighting the selective nature of Switzerland’s new transparency initiative.
This exclusion suggests strategic considerations beyond mere regulatory compliance, potentially reflecting diplomatic and economic factors that influence Switzerland’s international partnerships.
The implementation timeline is carefully structured to allow for proper preparation and review. While the legal framework becomes active in 2026, the first actual data exchanges are scheduled for 2027, providing a buffer period for both Swiss authorities and international partners to establish the necessary infrastructure and compliance mechanisms.
Strict Compliance Standards
Switzerland’s approach to crypto data sharing is far from unconditional. Partner countries must demonstrate compliance with the Organization for Economic Cooperation and Development’s Crypto-Asset Reporting Framework (CARF) before receiving any information.
This requirement ensures that participating nations maintain equivalent transparency standards, creating a reciprocal system that protects Switzerland’s interests while promoting global tax compliance.
The Federal Council has emphasized that data sharing will only occur with countries that express genuine interest in exchanging information with Switzerland. This mutual consent requirement prevents one-sided information flows and maintains Switzerland’s negotiating position in international tax matters.
Additionally, the council plans to conduct regular reviews to ensure partner states continue meeting the required standards over time.
Strategic Crypto Transformation
Swiss crypto service providers, including exchanges and wallet providers, will face comprehensive reporting obligations under the new framework. They must collect users’ tax residency information, taxpayer identification numbers, and detailed transaction data covering crypto-to-fiat exchanges, crypto-to-crypto trades, and asset transfers.
This legislative crypto change represents more than regulatory compliance—it signals Switzerland’s strategic repositioning from a tax haven to a transparent financial hub. The Federal Council explicitly stated that adopting crypto AEOI will help Switzerland meet international tax transparency commitments, strengthen its financial sector’s reputation, and create fair competition for local crypto firms.
The timing aligns with the European Union’s implementation of the eighth update to the Directive on Administrative Cooperation (DAC 8), which extends automatic information exchange requirements to crypto assets across all EU member states. By proactively adopting similar standards, Switzerland avoids potential competitive disadvantages while maintaining its integration with European financial markets.
