Switzerland defends cryptocurrencies
The Swiss Federal Council and the State Secretariat for International Finance announced on Wednesday that cryptocurrency reporting regulations will come into force on January 1, as originally planned, but will not be implemented in practice until at least a year later. In addition, the Swiss government’s tax committee “suspended its deliberations on the partner countries with which Switzerland intends to exchange data,” which is the main reason for the delay.
To understand what is happening, you need to go back to 2022 – when the Organization for Economic Co-operation and Development (OECD) approved regulations that force individual countries to exchange information regarding cryptocurrencies. The idea is to reduce tax avoidance through digital assets. And these are the regulations that Switzerland must implement.
In June, the Swiss Federal Council took action to implement the draft law for the adoption of CARF regulations in January 2026. She announced then that the first exchange of data on cryptocurrency accounts would take place in 2027. However, it is currently unknown when this exchange of information is planned.
Which countries say “no”
The OECD indicates in its reports that not all countries want to join the alliance. The “no” answers include: Argentina, El Salvador, Vietnam and India.
However, the resistance is slowly disappearing. Earlier this month, Reuters reported that the Brazilian government was considering introducing a tax on international cryptocurrency transfers as part of an effort to bring the country’s regulations in line with OECD standards.
Meanwhile, the US White House also recently considered a proposal from the US Internal Revenue Service (IRS) to join the alliance – as part of an effort to introduce stricter capital gains tax reporting rules.
Of course, such activities reduce the privacy guaranteed by blockchain. But this is the price for cryptocurrencies entering the mainstream.
