Switzerland postpones the implementation of cryptocurrency tax information sharing until 2027

Techub News: According to Cointelegraph, Switzerland has postponed the implementation of rules for the automatic exchange of cryptocurrency account information with foreign tax authorities until 2027 and is still deciding which countries to share data with. The Crypto Asset Reporting Framework (CARF) rules will still be written into law as originally planned on January 1. The Swiss Federal Council and the State Secretariat for International Finance also stated that the Swiss government's tax committee "suspended deliberations on the partner countries with which Switzerland intends to exchange data under the CARF," which is the reason for the delay.

The Organisation for Economic Co-operation and Development (OECD) approved CARF in 2022 as part of a global effort to cooperate with governments in sharing crypto account data to curb tax evasion through crypto platforms.