Switzerland’s New Crypto Data Sharing Initiative: A Comprehensive Overview
Switzerland is taking significant strides in regulating the crypto industry by introducing a mandatory data-sharing initiative. This ambitious plan, approved by the Swiss government, mandates that crypto businesses disclose customer data related to digital assets. The initiative, set to commence on January 1, 2026, aims to enhance international cooperation by sharing information with 74 partner nations by 2027.
Implementation Timeline and Framework
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In a move to modernize international data sharing protocols, the Swiss Federal Council has introduced a legislative proposal. This proposal requires crypto-service providers in Switzerland to meticulously record the ownership details of all crypto assets. These records will be submitted to Swiss tax authorities starting January 1, 2026. Subsequently, by 2027, the gathered information will be transmitted to partner countries that comply with specified standards. Parliamentary discussions are ongoing, with the approval of the bill expected to solidify the January 2026 launch date.
Partner Countries: A Global Network
Switzerland’s data-sharing network is extensive, encompassing 74 jurisdictions. This includes all 27 European Union member states, the United Kingdom, and most members of the G20. Notably, the United States, Saudi Arabia, and China are excluded from this list due to their non-adherence to the Crypto-Asset Reporting Framework (CARF) rules. Data exchanges will occur only with countries that both request the information and meet the Organization for Economic Co-operation and Development (OECD) criteria.
Regulatory Compliance and Monitoring
Under the proposed regulations, Swiss authorities will conduct thorough assessments of partner states before any data exchange. This scrutiny mirrors the existing framework for bank-account data. Should a nation fail to comply with CARF standards, data sharing will be halted until compliance is restored. The legislation seeks to align the oversight of crypto assets with traditional financial accounts, strengthening regulatory consistency.
Implications for Swiss Crypto Businesses
For crypto-service providers in Switzerland, significant changes loom on the horizon. By 2026, these entities must collect comprehensive customer information, including names, addresses, tax identification numbers, and crypto asset balances. This data will be reported to Swiss authorities and subsequently disseminated to other jurisdictions in 2027.
Additionally, under the European Union’s Directive on Administrative Cooperation (DAC 8), Swiss firms will be required to submit reports directly to EU member states until Switzerland finalizes new data-protection agreements under the European Convention on Human Rights. These measures aim to bring crypto asset reporting in line with traditional banking practices, thereby reinforcing Switzerland’s commitment to international tax transparency and safeguarding its financial sector’s reputation.
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