Overview
- Switzerland will write the OECD’s Crypto‑Asset Reporting Framework into law on January 1, 2026, but automatic international exchanges will not start before 2027 after a parliamentary committee halted partner‑list talks.
- Swiss crypto service providers must register, conduct due diligence, verify customers, and retain transaction data from 2026, with associations and foundations brought into scope subject to limited exemptions and transitional rules.
- A Swiss partner list covering about 74 jurisdictions was prepared, including EU states, the UK, Japan, and Canada, while the US, China, and Saudi Arabia were not included due to reciprocity and technical considerations.
- The UK’s 2025 Budget confirms that platforms must collect full transaction records and customer identifiers from January 1, 2026, with first automated reports to HMRC in 2027 and penalties of up to £300 for missing or unreported user data.
- HMRC will use reported data to check tax returns and is extending reporting to domestic activity under CARF, as the OECD counts roughly 75 committed jurisdictions and the US reviews an IRS proposal to participate.