Publications

For over a decade, part of crypto’s appeal, particularly for cross-border capital, rested on structural opacity. Decentralisation, self-custody and the absence of a CRS-equivalent framework allowed digital assets to operate outside the reporting architecture applied to traditional finance. That environment is now changing rapidly.

The OECD’s Crypto-Asset Reporting Framework (CARF) represents the first globally coordinated standard for tax transparency in crypto-asset transactions. Switzerland’s adoption followed a deliberate sequence: Parliament approved CARF on 26 September 2025, with the legal framework entering into force on 1 January 2026. Following a decision by the National Council’s Economic Affairs and Taxation Committee in November 2025, due diligence and data-collection obligations will be operational from 2027, with first international exchanges targeted for 2028, placing Switzerland alongside Australia, Canada, Hong Kong, Singapore and the UAE in the second exchange cohort. The Swiss Federal Council has proposed exchanges with 74 partner jurisdictions, including all EU member states and the UK, with the US and Saudi Arabia as current exceptions. As of March 2026, 76 Global Forum members have committed to implementing CARF.