Switzerland has taken a significant step towards international tax compliance by approving the automatic exchange of data on crypto-asset holdings with 74 partner countries starting in 2027. This move, based on the Crypto-Asset Reporting Framework (CARF) developed by the OECD, aims to enhance transparency and combat tax evasion related to offshore digital asset holdings.
The list of partner countries includes all EU members, the UK, and most G20 countries, demonstrating Switzerland’s commitment to global cooperation in combating financial crimes. However, notable exclusions from the list are the United States and Saudi Arabia, which may not currently meet the reciprocity and compliance benchmarks set out under CARF.
For the data exchange to proceed, partner jurisdictions must agree to reciprocity and adhere to the technical and legal standards outlined in CARF. The Swiss parliament is currently reviewing the legal framework for this data-sharing regime, with implementation scheduled for January 1, 2026, and the first data transmission set for 2027.
In line with global trends, Switzerland is joining the ranks of countries adopting the OECD’s global reporting framework for crypto-assets. This move underscores the country’s commitment to international tax compliance and aligns with efforts to combat financial crimes on a global scale.
While Switzerland focuses on global compliance, locally, the country’s adoption of cryptocurrencies is also gaining momentum. Spar Switzerland recently announced plans to accept Bitcoin payments at all store locations, making it the first major grocer in the country to embrace cryptocurrency for everyday transactions.
This dual trajectory of international compliance and local crypto adoption highlights the evolving landscape of digital currencies in Switzerland. As merchants and consumers increasingly use cryptocurrencies for payments, governments will need to balance transparency obligations with the growing demand for decentralized financial solutions.
As Switzerland moves towards implementing the OECD’s CARF framework, the country stands at the forefront of global efforts to enhance tax transparency in the crypto-asset space. With ongoing assessments determining partner eligibility, the scope of data exchange may expand in the future, reflecting the dynamic nature of international tax compliance standards.
Overall, Switzerland’s decision to exchange crypto-holder data with partner countries under CARF signals a significant step towards enhancing transparency and combating financial crimes in the digital asset space. By aligning with international standards and embracing local crypto adoption, Switzerland is positioning itself as a leader in the evolving landscape of digital finance.