Key Takeaways from the CARF & CRS Event organized by the Swiss Blockchain Feredation

Our recent CARF & CRS event brought together industry experts and regulators to discuss the evolving landscape of crypto-asset reporting and tax transparency. Below are the five most important highlights:

Switzerland Postpones CARF Implementation

The Swiss Parliament has decided to delay the implementation of the Crypto-Asset Reporting Framework (CARF) by at least one year. Originally scheduled for January 1, 2026, the start date will now be no earlier than 2027. This decision reflects the need to align with international developments and maintain a level playing field.

Reasons Behind the Delay

Three key factors influenced this postponement:

Ongoing OECD work on interpretative guidance for tokenized assets.
Uncertainty regarding the scope of certain financial instruments, such as security tokens.
Adjustments to global timelines, including delays announced by the United States and other jurisdictions.

Industry Impact and Next Steps

Despite the delay, businesses must act now. Companies should:

Review their business models and identify potential CARF and CRS obligations.
Assess international nexus criteria to avoid unexpected reporting duties.
Prepare for self-certifications and robust data management processes.

Technical and Operational Challenges

Implementing CARF will require significant investment in systems and processes:

Extending core banking or customer information systems.
Collecting and validating client data (e.g., tax identification numbers).
Aggregating and converting transaction data for CARF-compliant reporting.

CRS 2.0 Remains on Track

Unlike CARF, the revised Common Reporting Standard (CRS 2.0) will go live as planned on January 1, 2026. Institutions must prepare for both regimes in parallel to ensure compliance.

Why this matters: The postponement offers additional time, but the complexity of CARF and CRS demands early preparation. The Swiss Blockchain Federation encourages members to stay informed, engage in working groups, and start implementing foundational processes now.