Cryptocurrencies Federal Council expands information exchange in crypto regulation
The automatic exchange of information on tax data should also cover crypto assets in future. The Federal Council has sent the amendment to the corresponding federal law to parliament. The first exchange of data is to take place in 2027.
19.02.2025, 13:21
SDA
On Wednesday, the Federal Council adopted the dispatch on the extension of the international automatic exchange of information in tax matters (AEOI) for the attention of the Federal Assembly. The extension also affects crypto market regulation in Switzerland.
Switzerland is aiming to implement the new reporting framework published by the OECD for the international automatic exchange of information in tax matters on crypto assets (AEOI), as the Federal Council wrote. This relates to the handling of crypto assets and their providers. The aim is to close gaps in the tax transparency system and ensure equal treatment with traditional assets and financial institutions.
The implementation of the MRK expands the progressive crypto market regulation in Switzerland and contributes to maintaining the credibility and reputation of the Swiss financial center, the statement continued. With the package of measures, Switzerland is fulfilling its international obligation in the area of tax transparency.
In addition to the MRK, the dispatch also concerns the updating of the OECD's Common Reporting and Due Diligence Standard for Financial Account Information (CRS). Switzerland has committed to implementing this standard and also to adopting future developments.
The bill also aims to criminalize the negligent violation of due diligence, reporting and disclosure obligations and simplify the admission of new partner states to the AEOI. According to the Federal Council, the majority of respondents to the consultation process welcomed the bill.
