This week saw regulators across the globe step up oversight of the crypto industry amid concerns about financial transparency and risk.
Firstly, Switzerland is gearing up to implement an automated sharing program for crypto data with 74 partner countries.
Meanwhile, Spain ushered in a new law aimed at making crypto ownership more transparent and improve reporting for tax purposes.
Finally, Singapore is set to introduce stiff new rules for Digital Token Service Providers, which will safeguard investors while preventing abuse.
Here’s what you need to know this week.
Switzerland proposes cross-country crypto data sharing
Switzerland’s Federal Council has adopted a draft bill to implement the OECD’s Crypto-Asset Reporting Framework (CARF), a groundbreaking move that will establish the automatic exchange of crypto asset tax data with 74 partner countries. These include all EU member states and other jurisdictions such as the United Kingdom.
The plan aims to align Swiss legislation with the OECD’s CARF standards and bolster international tax transparency in the crypto sector. If passed by parliament later this year, the first wave of cross-border data sharing would begin in 2027. The draft bill also includes guidelines to identify relevant crypto intermediaries, such as exchanges, brokers, and wallet providers.
This initiative would place Switzerland among the first countries to operationalize CARF, showing a strong commitment to multilateral financial oversight in the digital asset space. It’s a clear signal that crypto tax evasion loopholes are closing on a global scale.
Why this matters:
Switzerland’s draft bill underscores a pivotal shift toward globally coordinated tax transparency in the crypto space. For compliance teams, regulators, and VASPs, it signals the urgent need to build infrastructure capable of meeting multi-jurisdictional reporting obligations. The direction of travel is clear: crypto anonymity in tax matters is fast disappearing.
Spain passes law to regulate crypto and share data
Spain has passed a new law to increase oversight of crypto assets, compelling individuals and entities to declare crypto holdings and share transactional data with tax authorities. The law forms part of Spain’s compliance with the European Union’s DAC8 directive, aimed at improving administrative cooperation on tax matters across the bloc.
This legislation will take effect in January 2026 and mandate that crypto platforms operating in Spain report on customers’ cross-border transactions. It represents a proactive step in implementing DAC8, reinforcing Europe’s stance on making crypto activity more visible and accountable.
Why this matters:
Spain is reinforcing the EU’s tightening grip on crypto oversight by setting clear expectations for reporting and cross-border cooperation. This development raises the bar for firms operating within the European Union, requiring enhanced data tracking and alignment with DAC8 protocols, which are critical for avoiding regulatory pitfalls.
Read more at Live Bitcoin News.
Singapore finalizes new crypto rules for investor protection
Singapore’s Monetary Authority of Singapore (MAS) has finalized a set of crypto regulations designed to protect retail investors and strengthen the country’s digital asset oversight. These new rules, effective from mid-2025, require crypto service providers to safeguard customer assets in trust and ban lending or staking services for retail investors.
The measures are part of MAS’s broader effort to limit speculative trading risks while preserving Singapore’s position as a leading fintech hub. Providers must also ensure proper risk disclosures and are expected to maintain high standards of asset segregation and custody.
Why this matters:
Singapore’s updated regulations reflect a growing global focus on safeguarding retail investors and strengthening asset custody standards. The new rules offer a framework that could influence policymaking in other jurisdictions, while also requiring local providers to reassess product offerings and risk disclosures.
