The blockchain data and analytics platform Chainalysis published a report on crypto taxes on Aug. 26, which said that the potentially taxable onchain crypto activity surpassed $457 billion gl
The blockchain data and analytics platform Chainalysis published a report on crypto taxes on Aug. 26, which said that the potentially taxable onchain crypto activity surpassed $457 billion globally in 2025.
Titled "The Crypto Tax Report: Mapping Global Taxable Activity with On-Chain Data," the report covers on-chain activity across six major blockchains, i.e., Bitcoin, Ethereum, Solana, Tron, BNB Smart Chain, and Base.
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The platform admitted that trading, staking, and lending inside centralized exchanges aren't public, the report's estimates likely understate total economic income.
In 2025, on-chain taxable crypto flows — (i) combining realized gains, (ii) income from mining, staking, lending and gambling, and (iii) crypto-denominated payments — hit $457 billion.
The Crypto Tax Report: Mapping Global Taxable Activity with On-Chain Data, Source: Chainalysis North America leads with $134.6 billion, closely followed by the European Union with $125.1 billion. East Asia, with $54.7 billion, comes a distant third.
In terms of taxable crypto activity, the U.S. ($112.6 billion), Germany ($24.1 billion), China ($21 billion), the U.K. ($19.4 billion), and India ($19 billion) occupy the top spots.
The Crypto Tax Report: Mapping Global Taxable Activity with On-Chain Data, Source: ChainalysisSince several taxpayers fail to report their crypto transactions, the Organisation for Economic Co-operation and Development (OECD) released the Crypto-Asset Reporting Framework (CARF) in late 2022.
The CARF can collect data from centralized crypto platforms to report transactions to the tax authorities. However, Chainalysis noted that these CARF-inclusive transactions account for only 14% of the global tax-liable transactions.
The Crypto Tax Report: Mapping Global Taxable Activity with On-Chain Data, Source: ChainalysisIt means 86% of the crypto activity which should generally invite taxes, including decentralized exchange activity, peer-to-peer transfers, on-chain income streams, and payments, falls outside the purview of the OECD's Crypto-Asset Reporting Framework.
Chainalysis said it doesn't recommend revising the CARF but emphasized the importance of blockchain tracking platforms.
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