Nikita Veremeev
10.12.2025 | 6 min read
Updated: 10.12.2025
EU and Swiss crypto regulation in 2026: a choice between strictness and flexibility
In 2026 cryptocurrency legislation in Europe and Switzerland enters a new phase: digital assets cease to be a “gray area” and are integrated into the traditional financial system at the level of laws, reporting standards, and supervision. Entrepreneurs face a choice: register in the EU with its strict but predictable MiCA/AMLR framework, or choose Switzerland with a more flexible but increasingly transparent model.
Three key trends in crypto regulation for 2026
Harmonization of rules for crypto assets. In the EU this is the implementation of Markets in Crypto‑Assets Regulation (MiCA) and Anti‑Money Laundering Regulation (AMLR) for crypto service providers, exchanges, issuers of stablecoins and tokenized assets. In Switzerland, the development of the already existing model of DLT laws and FINMA financial licences takes international standards into account.
Deeper fiscal transparency. Reporting standards for crypto assets are being introduced based on the OECD initiative (CARF) and mechanisms for the automatic exchange of information (AEOI) on crypto assets. The goal is to combat cross‑border tax avoidance. From 2026,
Switzerland begins to apply these standards, joining the automatic exchange of information on crypto assets with 74 countries, including all EU member states, the United Kingdom and most G20 participants.
A complete move away from anonymity. Solutions for digital identification and client verification are being scaled up; KYC in the crypto industry becomes the default standard. In 2027 the EU introduces a cash payment limit of up to €10,000, while cryptocurrency transfers over €1,000 will undergo mandatory checks.
Cryptocurrency regulation in the EU in 2026
MiCA: structuring the market by asset types
MiCA structures the market, regulating the issuance and circulation of utility tokens, asset‑referenced tokens and e‑money tokens. It establishes a licensing regime for crypto platforms, exchangers, custodial providers and digital asset brokers.
impact on business is twofold: on one hand, it is a significant entry barrier with capital and corporate governance requirements, on the other – a single CASP (Crypto Asset Service Provider) authorization opens access to the entire EU market without the need to obtain licenses in each country separately.
AMLR: aligning requirements with financial institutions
AMLR in the EU aligns crypto providers with classical financial institutions in terms of control. For crypto businesses this means implementing a full AML/CFT system, mandatory
KYC procedures using digital identification, complying with new reporting standards and participating in international agreements for the exchange of tax information.
Notably, more than 90% of crypto platforms and wallet providers serving clients from the EU fall under the scope of MiCA and AMLR, even if the company is legally located outside the Union.
Licensing in the EU: jurisdictions and requirements
When choosing an EU jurisdiction to register a crypto business, entrepreneurs assess the regulator’s speed and predictability, the tax regime for crypto operations and the requirements for local presence. The best jurisdictions for crypto exchanges in Europe include the United Kingdom, Ireland, Estonia, Lithuania,
Cyprus, Malta, Luxembourg and neighboring Switzerland. In Estonia, for example, cryptocurrency regulation rules are considered open and innovative.
Crypto regulation in Switzerland in 2026
Automatic exchange of information on crypto-assets
The Federal Council of Switzerland approved a list of 74 countries with which automatic exchange of information on crypto-assets (AEOI) will take place. Entry into force is scheduled for 2026, and the first data exchange will take place in 2027. The list includes all European Union countries, the United Kingdom and the vast majority of G20 participants, with the exception of the USA, Saudi Arabia and China.
This means that the usual schemes using Swiss structures to conceal income from digital assets are becoming pointless. Companies focused on institutional clients and high-net-worth private investors, on the contrary, benefit from increased tax transparency and trust in the infrastructure.
It is important to note: inclusion on the list does not guarantee an immediate start of exchange. Interaction will be carried out only with those countries that express readiness to cooperate and implement reporting standards that correspond to OECD norms.
Licensing and FINMA
Licensing in Switzerland varies by type of activity. For cryptocurrency brokers and exchanges this may be a trading platform license or a financial intermediary license under FINMA supervision. For custodial services and providers of cryptocurrency wallets: permits related to the storage and transfer of clients’ assets.
Regulation in Switzerland places extremely high demands on the quality of internal control and documentation of processes. Switzerland, as the Zug “crypto valley”, sets benchmark regulatory standards, but this is achieved at the cost of longer approval times and higher substance requirements for companies.
The Swiss National Bank’s position
The Swiss National Bank (SNB) has taken a cautious stance towards cryptocurrencies. At the end of April 2025, the head of the regulator, Martin Schlegel, refused to include Bitcoin in reserve assets, stating that cryptocurrencies do not meet the standards of the country’s foreign exchange reserves.
The SNB’s position is also reflected in international rankings: in 2023 Switzerland ranked second in cryptocurrency adoption, yet in Chainalysis’s 2024 global ranking, based on analysis of the use of different types of crypto services and transaction flows, it did not even make the top 20.
Comparative analysis of the EU and Switzerland
| Aspect |
EU (MiCA + AMLR) |
Switzerland |
| Legal framework |
Unified MiCA regulation, AMLR |
Financial laws + DLT amendments, FINMA |
| Licensing |
CASP, payment/investment licenses |
FINMA licenses by type of activity |
| AML/CFT |
Strict, harmonized AMLR regime |
Strict but more flexible, case‑by‑case |
| AEOI / CARF |
Implementation of OECD standards |
Joining AEOI and CARF from 2026 |
| Market access |
27 countries, single access |
Niche of a «premium» jurisdiction |
| Licensing timelines |
6–12 months |
12–18 months |
| Capital requirements |
Clearly defined in MiCA |
Depend on the type of activity |
Practical criteria for choosing a jurisdiction
Choose the EU if:
- priority — a broad market and scaling across a single market
- you need predictability and uniform rules for everyone
- target clients — retail users and SMEs in Europe
- you want to minimize the complexity of regulatory interaction
Choose Switzerland if:
- you work with HNWIs and institutional clients
- you need flexibility in structuring and complex financial arrangements
- you plan R&D, tokenization, or innovative models
- you are prepared for higher costs and longer licensing timelines
Key risks and recommendations
legal risks when running a crypto business in the EU are related to non-compliance with the strict MiCA/AMLR rules and the risk of losing access to the single market. In Switzerland — to possible requalification of activities by FINMA and a retrospective assessment of operations if the model was built “on the border” of regulation.
To comply with the new requirements:
- Establish AML/CFT processes with a risk‑based approach, client segmentation and regular review of risk ratings
- Integrate technologies for automatic exchange of crypto-asset data and CARF reporting preparation
- Deploy blockchain analytics and transaction monitoring tools
- Budget for comprehensive legal support and regular compliance reviews
It’s cheaper and more reliable to set up the model correctly from the start than to “repair” it later under regulator pressure. Hybrid solutions — registering an operating company in the EU and using a Swiss structure for certain functions — often prove to be the optimal compromise between scalability and flexibility.
