Switzerland is moving forward with plans to set up automatic sharing of cryptographic information with 74 partner countries, which includes nations like the UK and members of the European Union.
The Swiss Federal Council has approved a bill aimed at facilitating this automatic exchange of cryptographic data (AEOI). This was communicated in an announcement on June 6th.
The proposal indicates that the data will also be shared with many G20 countries; however, it notably excludes the US, Saudi Arabia, and China, as stated in a post by the Swiss federal government.
The legislation is currently under discussion in Congress, and, if it passes, the AEOI structure for crypto assets is expected to be in place by January 1, 2026.
First data exchange anticipated in 2027
This latest proposal follows an earlier report by the Federal Council that outlined the legal framework for AEOI concerning crypto assets, which was approved on February 19, 2025.
During the June 6th meeting, the council discussed the approval of AEOI, with plans for the first exchange of cryptographic data slated for 2027.
Before this data exchange takes place, the Federal Council has proposed that the AEOI framework evaluate whether the partner countries involved still meet the necessary standards.
“To ensure this, the existing review process for financial account information under AEOI will need to incorporate AEOI for crypto assets moving forward,” they mentioned.
Exchange reliant on mutual benefits
In their announcement, the Federal Council stressed that AEOI should only proceed if the partner countries are also interested in sharing information with Switzerland.
Those countries must adhere to the Crypto Asset Reporting Framework (CARF) established by the Organization for Economic Cooperation and Development (OECD).
Additionally, the EU is expected to implement AEOI for crypto assets or DAC 8, which is part of the eighth update to the directive on administrative cooperation. This would apply to those countries still not meeting the OECD Crypto Reporting Standard across the EU.
“From that point onward, entities utilizing Swiss crypto services will have a direct reporting obligation to EU nations, which will remain in effect until Switzerland aligns its practices with all EU countries,” the council noted.
The Federal Council believes that adopting crypto AEOI will bolster Switzerland’s commitment to international tax transparency, enhance the status of its financial sector, and ensure fair competition for local crypto businesses.
“Hence, Switzerland is keen to integrate into this global network and implement AEOI for crypto assets starting in 2026, especially since it is likely to receive tax-related data on crypto holdings from its partner states,” they stated.
