Switzerland Ends Some Banking Secrecy for Crypto, Will Share Data with 74 Nations; US Excluded

• Switzerland to share crypto data with 74 countries starting in 2027 under a new AEOI bill.
• U.S. and Saudi Arabia excluded from Switzerland’s crypto data exchange framework.
• Swiss crypto firms face direct EU reporting until full ECHR compliance is achieved.

Switzerland’s Federal Council has adopted a new bill that sets the stage for the automatic exchange of information (AEOI) on crypto assets with 74 partner countries. This group includes all European Union (EU) member states, the United Kingdom, and most G20 nations. 

The measure, which was announced following a formal council meeting on June 6, sets a timeline for the first exchange of data to begin in 2027. Notably, however, the United States and Saudi Arabia are not currently included in the list of participating partner countries.

This decision builds on a previous dispatch that the Federal Council issued back on February 19, 2025. That earlier action laid out the legal foundations needed to implement an AEOI system specifically for digital assets. According to this newly updated proposal, Switzerland is aiming to start sharing crypto asset information with all participating jurisdictions by 2027.

Related: Switzerland’s New Stablecoin Law: Too Much KYC?

Before that exchange of information can begin, though, the council will assess whether its partner countries continue to meet the necessary technical and legal requirements of the international AEOI standard. This planned review will mirror the existing mechanism that Switzerland already uses for its AEOI on traditional financial account information. To make this possible, the relevant federal decree will first require some formal amendments.

Data Exchange Conditional on Reciprocal Agreements, OECD Compliance

According to the official statement from the Federal Council, Switzerland will only move forward with these information exchanges if its partner states show a reciprocal interest. They also must meet all compliance standards under the Crypto-Asset Reporting Framework (CARF). The CARF was established by the Organisation for Economic Co-operation and Development (OECD) to ensure that all such data transfers are fully aligned with international tax reporting norms.

The European Union, for its part, is expected to implement its side of the crypto asset AEOI through its Directive on Administrative Cooperation (DAC 8). This directive mandates reporting obligations across all EU member states. Until Switzerland completes its own full integration under the European Common Reporting Standard (ECHR), Swiss crypto service providers will be required to report directly to the relevant jurisdictions within the EU.

Related: Investor Ditches UK for Switzerland’s Crypto Valley

The Federal Council confirmed that adopting the AEOI for crypto assets is a key step in supporting Switzerland’s international tax transparency commitments. The council also added that this move will help ensure fairness across the entire financial services sector. Finally, it will allow Switzerland to begin receiving important, tax-relevant information on digital assets held by its citizens from foreign authorities.