Switzerland’s plan to adopt a global framework for sharing crypto tax information is set to be enshrined in law starting January 1, 2026, but its execution will be delayed until 2027. As of now, the Swiss government is still deliberating on which countries will engage in this data exchange.

The Crypto-Asset Reporting Framework (CARF) is established to aid in combating tax evasion related to cryptocurrency activities. The Swiss Federal Council, along with the State Secretariat for International Finance, confirmed that while the legislative framework will be enacted on the planned date, the actual sharing of data will be postponed.

According to the announcement, the tax committee of the Swiss government has halted discussions regarding potential partner nations for data exchange under CARF, which is the main reason for this delay.

In 2022, the OECD endorsed CARF as part of a broader effort to enable countries to share crypto account data, thus compelling compliance from individual countries to curb tax evasion.

75 nations have committed to CARF

OECD documentation indicates that 75 countries, including Switzerland, are set to adopt CARF in the upcoming years. Notably, Argentina, El Salvador, Vietnam, and India are among those that have yet to sign the agreement.

Earlier in the month, reports indicated that Brazil is contemplating local taxation on international crypto transactions to align its domestic regulations with CARF.

Moreover, the U.S. White House is also examining the Internal Revenue Service’s proposal to join CARF to implement more stringent tax reporting regulations for U.S. citizens utilizing foreign exchanges.

Related: What happens if you don’t pay taxes on your crypto holdings?