#CryptoSecurity101

Compliance Costs and Market Impact

Swiss crypto service providers must now prepare for enhanced due diligence procedures, including customer identification and transaction reporting. The framework covers cryptocurrencies, stablecoins, and non-fungible tokens while excluding central bank digital currencies.

The Federal Council emphasized that data exchange would only occur with states demonstrating mutual interest and meeting OECD requirements. According to the council, adopting the framework would help Switzerland meet international tax transparency commitments and "create a level playing field for local crypto firms".