Switzerland Goes Cryptocurrency Snitch: 74 Countries in the Mix! 🚨

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Hold onto your hats, dear reader, for Switzerland’s federal wise men have given their blessing to a plan so grand it makes the Grand Canyon look like a minor ditch. Yes, they’re all set to share crypto secrets with a staggering 74 countries. It’s like a global gossip session, but with more digital digits and fewer teacups. ☕🤓

Under the scheme, the Alpine extravaganza will happily trade crypto tidbits with all European Union nations, the U.K., and most of the G20 gang — but, hold your horses, the U.S. and Saudi Arabia are snubbing the whole shindig, perhaps busy counting their gold or something equally thrilling. 💸

On the jolly sixth of June, Switzerland’s official scribes confirmed that the Federal Council had given the nod to a bill enabling this digital intel exchange. Fancy! It’s a bit like passing notes in class, but with better security and fewer suspensions. ✅

This idea is an extension of a February 19, 2025, communiqué — yes, 2025, not a typo — outlining the legal jazz for international cooperation on digital assets. Because nothing says “trustworthy” like legislating about computer magic. 🧙‍♂️

AEOI Framework

The bill is currently waltzing through Parliament, and if it gets royal assent, the AEOI (Automated Exchange of Information, but you knew that) for crypto will be ready to roll on January 1, 2026. Mark your calendars — or your crypto wallets! 📅💼

If enacted, Switzerland promises to exchange data only with countries that show genuine interest and toe the OECD line — which is a fancy way of saying, “We’ll share if you play nice.” The Federal Council will keep an eye on these partners with periodic checks, like a stern but fair teacher peering over their glasses. 👓

They also declared, “In future, the blockchain review committee will keep tabs on crypto info, with a few legal tweaks to keep everyone happy.” Because nothing says progress like bureaucratic paraphrasing. 📝

This comes hot on the heels of the Swiss National Bank’s chief, Martin Schlegel, chucking cold water on the idea of a Bitcoin reserve — a bit like pouring gin into a silent movie. He insists cryptocurrencies don’t meet standard standards, probably because they’re too busy doing the crypto cha-cha. 💃

He emphasized that Switzerland needs a reserve that’s as liquid as a freshly poured martini, ensuring smooth buying and selling of foreign currencies without causing a financial frolic. 🍸

Meanwhile, across the pond, Uncle Sam’s Texas is attempting its own little crypto coup, with the House passing Senate Bill 21 to create a state Bitcoin reserve — yeehaw! 🤠 Once Governor Abbott signs on the dotted line, Texas will be the second state to hold Bitcoin in its treasury. Austin’s about to get a whole lot more digital.

And over in Pakistan, officials are dreaming big, planning a Strategic Bitcoin Reserve as part of their grand digital dreams — it’s like Bitcoin’s own version of a hoarding hobby. They’re also chatting internationally, probably to brag about their plans. 🌍

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2025-06-06 19:57