Is the reinforcement for shrinkage only, or is it an area prone to frost? I am not experienced at frost, so my comments are on standard shrinkage.
For shrinkage only I cannot see how this can cause any cracking in the short and completely unrestrained vertical direction. Also think of the fact that the front face will be under compresion.
In the horizontal, I would try and get cracking reinforcement at 16 to 18"cts if possible. You will need the vertical reinforcement to hold this in place. Assuming the wall is at least 8" thick, I would put this both faces, if it is thinner, you can only fit one horizontal layer and I would put this on the external side of the vertical reinforcement.
I had a wall with 16mm (#5)bars at 12" cts and it still cracked due to soil restraint, so make sure you put in some control joints at reasonable centres.