Federal Council wants to define partners for crypto information exchange
Published: Wednesday, Aug 14th 2024, 11:30
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The Federal Council wants to determine with which countries Switzerland should introduce the automatic exchange of information (AEOI) on crypto assets. It has opened a consultation on this. The exchange of information is set to begin at the start of 2026.
With the consultation draft adopted on Wednesday, the Federal Council is putting up for discussion with which of the 111 states and territories with which Switzerland has activated the AEOI should automatically exchange information, including on crypto assets, from January 1, 2026. The consultation will last until November 15, 2024.
The list of countries includes all EU states, Australia, the UK and the United Arab Emirates. The Federal Council is also discussing with which countries the AEOI on crypto assets could be introduced at a later date. This list includes China, Qatar and Saudi Arabia.
The exchange will only become concrete once the partner countries have received information from Switzerland. In addition, the countries must meet the requirements of the OECD reporting framework for crypto assets.
The consultation on extending the AEOI to crypto assets has been running since last May and will continue until September 6. The AEOI is due to come into force on January 1, 2026.
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