Chainalysis reports $457B in global taxable crypto activity for 2025, but the OECD's CARF framework captures only 14%, leaving a $393B blind

On-chain potentially taxable crypto activity was more than $457 billion in 2025. However, many tax agencies have little insight into this activity.

Chainalysis estimates potentially taxable crypto activity reached $457 billion in 2025, with much of the onchain activity falling outside CARF’s scope.