Swiss crypto tax reporting: the law is in place, the data exchange is not

Country reference

• Country: Switzerland (Wave 1 expansion country)
• Authorities: State Secretariat for International Finance (SIF); Federal Tax Administration (FTA)
• Topic: Automatic exchange of information (AEOI): crypto-asset reporting framework and revised Common Reporting Standard
• Key date: Legal basis in force 1 January 2026; crypto reporting from 1 January 2027 at the earliest
• Law: Federal Act and Ordinance on the International Automatic Exchange of Information in Tax Matters

Where things stand

The OECD approved its Crypto-Asset Reporting Framework in June 2023. It extends automatic exchange of tax information to crypto assets. Switzerland has adopted the legal basis, but Parliament has not yet approved the list of partner states, so nothing is exchanged yet.

The sequence

• 6 June 2025: the Federal Council proposed 74 partner states, including all European Union members, the United Kingdom and most G20 countries. The United States and Saudi Arabia were not on the list.
• 3 November 2025: the National Council’s Economic Affairs and Taxation Committee suspended its deliberations on the partner states.
• 26 November 2025: the Federal Council approved the revised AEOI Ordinance, in force on 1 January 2026, and said the crypto framework would be implemented in 2027 at the earliest.
• 18 May 2026: an updated SIF question-and-answer paper confirmed that the crypto due diligence and reporting duties do not apply in 2026.

What does apply from 1 January 2026

• The revised Common Reporting Standard: it now covers e-money products and central bank digital currencies, and treats certain crypto assets as financial assets.
• The standard applies directly to associations, foundations and their accounts.
• Crypto service providers may already adapt their client self-certifications on a voluntary basis.

What is still to come

• Parliament must approve the partner states before the Federal Council can ratify the multilateral agreement.
• SIF says the parliamentary deliberations will be concluded in 2026 at the earliest.
• Once the framework applies, Swiss crypto service providers will have registration, due diligence and reporting duties.

What to do now

• Crypto service providers: build the due diligence process now, so client data is ready when the start date is set.
• Banks and fund administrators: apply the revised Common Reporting Standard, which is already in force.
• Holders of crypto assets through Swiss providers: assume the holdings will be reported to your country of tax residence once it is a partner state.

Our take

The delay is political, not a change of direction. Switzerland has committed to the standard, as have other financial centres. Anyone relying on Swiss crypto custody for privacy from a home tax authority should plan on that ending, with the first year still to be fixed.