Switzerland’s Bold Crypto Dance: Sharing Secrets with 74 Friends (No U.S., No Saudi?)

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Switzerland’s Bold Crypto Dance: Sharing Secrets with 74 Friends (No U.S., No Saudi?)

Oh, Switzerland, that charming land of chocolates and precision watches, has just waved a flag—not for a parade, no, but for a grand exchange of crypto secrets. Imagine: a bill approved, a handshake among 74 nations, all eager to peek into each other’s digital piggy banks — but wait, the U.S., Saudi Arabia, and China are busy elsewhere, probably looking at their own encrypted mysteries with suspicion, or maybe just confused. 🤔

On the memorable June 6, the Swiss Federal Council, ever the diligent conductor, donned their invisible tuxedos and approved a law that will, come January 2026, start whispering crypto secrets into the night—secret that will be shared, if all goes well, with a select club. The first clandestine exchange? Scheduled for 2027—just in time for the crypto New Year, perhaps. Because what’s better than a little data sharing sparking global intrigue? 🕵️‍♂️

Swiss Crypto Snow-Capped Mountains

The “relevant” crypto market—such a fancy phrase—will be the only one under the microscope. Though the official list of the 74 countries remains a mystery, the Swiss are generous enough to include all EU members, the UK, and most of G20—except, of course, the usual suspects: the U.S., China, and Saudi Arabia. It’s almost as if these nations are too busy with their own crypto secrets, or perhaps they just don’t want to share their digital cookie jars. 🍪

The Swiss Federal Council’s declaration, boldly stating: “Crypto secrets sharing with 74 friends, including 🇬🇧, all 🇪🇺 members, and most G20—except those few, *cough* U.S., China, Saudi Arabia.” Now, the Parliament is invited to the grand debate, probably over coffee and Swiss chocolate.

Official press release: @efd_dff @sif_sfi

— Swiss Federal Government (@SwissGov) June 6, 2025

But alas, the U.S. and Saudi Arabia, perhaps too busy defending their crypto castles, will sit out this game of digital espionage. The Swiss government, ever the transparent — or maybe just sarcastic — outfit, pointed out which nations won’t get a peek at their crypto treasures. No love lost here, apparently. 🤷‍♂️

The exchange of data? Only if the other nations agree—because nothing screams power like asking permission before peeking into someone’s digital wallet. Plus, these countries must follow the Wise Ways of the OECD’s Crypto-Asset Reporting Framework, because rules are meant to be followed, or so they say. Or perhaps just smiled at while secretly plotting. 😏

The Swiss are even contemplating a “review”—a gentle check-up—to see if their chosen friends continue to play by the rules. After all, in the world of crypto, rules are just suggestions, right? 🧐

Cryptic Data Flow

This framework, wrapped in the noble guise of fighting tax evasion, essentially turns crypto providers into vigilant tax spies. Exchanges and wallets must annually report who owns what—because in the land of secret coins, transparency is the new black. 💼

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2025-06-06 16:02