Switzerland exploring initiative to share crypto data with compliant partner states

The executive power in Switzerland has approved a group of nations with which it intends to share information concerning crypto assets and transactions.

The rules governing the process will enter into force this year, with the automatic exchange of crypto data with interested partners scheduled to begin in 2027.

Switzerland to exchange crypto data with EU but not US

The Federal Council of Switzerland, the highest authority in the Confederacy, has approved a list of “partner states” that will receive crypto-related information from the Alpine nation.

“Entry into force is planned for 2026, with the first exchange of data taking place in 2027,” the Council highlighted in a press release on Friday, following its meeting in Bern. The executive body said:

“In the bill adopted today, the Federal Council is proposing 74 countries relevant to the crypto market with which Switzerland should automatically exchange information concerning crypto assets.”

The group includes all 27 member states of the European Union, the United Kingdom as well as most G20 countries with some notable exceptions – the United States and Saudi Arabia, the announcement detailed.

An exchange should only take place if the partners are interested in sharing information with Switzerland, the Federal Council emphasized.

They are also expected to fulfil the requirements of the Crypto-Asset Reporting Framework (CARF) introduced by the Organization for Economic Co-operation and Development (OECD).

The OECD developed CARF as a set of rules guiding the reporting of cryptocurrency transactions and compliance with global anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.

The Swiss list of nations approved for international automatic exchange of information (AEOI) comes out on February 19 this year, the Council adopted a dispatch on the international and national legal bases for crypto data sharing.

The legislation is still under consideration in the Federal Assembly, the Swiss parliament, and the AEOI for crypto assets is due to enter into force on January 1, 2026, the press release noted.

Bern to check compliance with Swiss standards before sending info

The Swiss Federal Council pointed out that it will assess whether the approved partner states continue to fulfil the AEOI requirements prior to any exchange of crypto data. It elaborated:

“To this end, the existing review mechanism for the AEOI on financial account information should in future also cover the AEOI concerning crypto assets, which requires the corresponding federal decree to be amended accordingly.”

Switzerland was known for its bank secrecy enshrined in national law to ensure the confidentiality of client information, including account details and transactions. But over the years, the country has been dealing with increased pressure from partners to share more financial information.

The authorities in Bern now believe that the transfer of crypto-related data will help Switzerland to fulfill its international obligations on tax transparency and improve the reputation of its financial sector. Creating a level playing field for Swiss crypto firms has been set as an objective as well.

A few years ago, Switzerland established a “crypto valley” in Zug to welcome companies working with digital assets from around the world. While it has been described as a Bitcoin-friendly destination, the country is currently not among the leaders in terms of crypto adoption.

Switzerland’s financial authorities have maintained a cautious approach regarding cryptocurrencies lately. In April, the Swiss National Bank (SNB) rejected calls to add Bitcoin (BTC) to its reserves, citing concerns over the liquidity and volatility of the crypto with the largest market cap.

The Federal Council is Switzerland’s top executive body acting as the nation’s federal cabinet. It has seven members, each heading a department, who are elected by the Swiss parliament and serve as a collective head of state with a rotating presidency.

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