For several years now, Switzerland has stood out for the dynamism of its many companies and start-ups specializing in crypto-currencies and blockchain. On Wednesday, the Swiss government announced the launch of a project to integrate crypto-assets into internationally-exchanged tax information, thus meeting OECD and G20 standards. Switzerland, one of 48 committed nations, plans to adopt by 2027 a standard set by the Organisation for Economic Co-operation and Development to include crypto-assets in tax information exchanges, with the aim of combating tax evasion.
The Federal Council has therefore launched a public consultation period on this project, which will run until September 6, as indicated in their press release. The adoption of this framework for reporting crypto-assets (CDC), as defined by the OECD, aims to modernize the regulation of the crypto-currency market in Switzerland and maintain the credibility and reputation of its financial center.
This initiative should also ensure a level playing field between crypto-assets and traditional assets. The new measures should take effect from January 1, 2026. By 2021, the OECD had been tasked by the G20 with developing a framework for the inclusion of crypto-assets in automatic tax information exchanges, with the aim of preserving advances in tax transparency in the face of the rapid growth of crypto-assets.
Canton Zug, often referred to as the “crypto-valley” due to its advantageous tax position, is particularly active in the crypto-currency and blockchain sector. The Swiss government has opted for a pragmatic rather than restrictive approach, choosing to regulate cryptocurrencies in order to position Switzerland as a leader in blockchain innovation and crypto services for the financial sector.
