Switzerland is known for many things. In the realm of finance, it is known for Swiss banking standards, which allow for high levels of privacy with low levels of risk. It therefore might not surprise anyone that the country has lenient regulations for crypto investors as well. However, the unique system of regions into divisions called cantons plays heavily into what can and cannot be done. Each of Switzerland’s 26 cantons has its own legal definitions regarding the treatment of cryptocurrency. One Swiss canton may tax cryptocurrency while another may not. And within each canton the rules that trigger taxation may differ. In Zurich, capital gains from movable private wealth are tax exempt, which could be interpreted to mean that Bitcoin and other crypto could be tax free. However, mining gains are taxed as regular income. In Bern, the regulations are stricter and mining and trading are treated as regular income. Lucerne is much more in line with the canton of Zurich and treats capital gains with tax-exempt status.