#TradingPairs101

Global Regulatory Convergence

The Swiss initiative aligns with worldwide efforts to extend traditional banking transparency rules to digital assets. The Organization for Economic Co-operation and Development developed the Crypto-Asset Reporting Framework as governments grappled with the challenge of tracking assets that can be transferred without traditional financial intermediaries.

The European Union will implement similar requirements through its eighth Directive on Administrative Cooperation, known as DAC8, which applies to countries not yet complying with OECD standards. Switzerland's crypto service providers would face direct reporting obligations in EU member states until Switzerland implements the framework with all EU nations.

Canada announced plans to adopt the framework by 2026, while nearly 50 countries are expected to fully implement the regulations by 2027.