Encryption tax is moving towards "global reporting"! Switzerland approves sharing of encryption income information with 74 countries.

The Swiss Federal Council passed a bill that will automatically exchange crypto asset tax information with 74 countries, increasing global tax transparency. (Synopsis: Liquidate your Crypto without paying taxes!) South Korea gives an ultimatum to 17 tax-owed cryptocurrency nationals) (Background supplement: 2025 latest "Cryptocurrency investor tax filing regulations: what is the difference between domestic and foreign income, virtual currency losses can be recognized as losses? Switzerland, as a global financial center, is taking an important step towards tax transparency in the cryptocurrency sector. The Swiss Federal Council recently passed a draft bill to establish a mechanism for the automatic exchange of crypto-asset-related tax information with 74 partner countries around the world. The act, which is expected to take effect in 2026 and the first data exchange scheduled for 2027, is expected to have a broad impact on the global cryptocurrency market and investors. Expansion of Global Tax Information Exchange This new mechanism is based on the existing Automatic Exchange of Information (AEOI) framework and aims to significantly improve tax transparency for crypto assets. According to the Federal Council's announcement on 6 June 2024, the list of partner countries includes the UK and all EU member states, covering most G20 countries. However, the United States, Saudi Arabia and China are not currently included in the scope of cooperation, which is also confirmed by the Swiss federal government in the official post of the X platform. This measure demonstrates Switzerland's commitment to embracing cryptocurrency innovation while also strengthening regulations to address the increasing complexity of cross-border financial activities. Regulation and consolidation of the Swiss market Switzerland has always been an important cryptocurrency hub, and its "Crypto Valley"(Crypto Valley) located in Zurich and other places, is internationally renowned. The local financial market supervisory authority (FINMA) monitors cryptocurrency-related activities in accordance with Swiss anti-money laundering regulations. There are reports that around 28% of Swiss banks are offering or planning to offer cryptocurrency investment services. In addition, large financial institutions such as BlackRock have also launched (ETP) of bitcoin exchange-traded products in the Swiss market. These developments not only reflect Switzerland's efforts to integrate cryptocurrencies into the mainstream financial system, but also the promotion of the Exchange of Information Act further strengthens the regulatory framework for potential tax avoidance. Switzerland's decision to approve the automatic exchange of tax information on crypto assets with 74 countries marks an important step in the development of cryptocurrency regulation worldwide. The implementation of this measure will significantly improve the transparency and compliance standards of international crypto asset taxation, and at the same time put forward higher requirements for the tax reporting obligations of market participants. Related stories Miner's dream country? Explore the full picture of cryptocurrency taxation and regulation in Iceland Brazil considers banning people from holding stablecoins on DEXs! Central Bank: Lack of Transparency Becomes a Tool for Tax Evasion and Money Laundering America's First Bitcoin Tax Evasion Conviction! The court ordered the surrender of $124 million in BTC private keys and sentenced to 2 years in prison (Crypto Tax Moves Towards "Global Notification"! Switzerland approves 74 countries to share crypto revenue information This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".