Chainalysis: CARF Covers Only 14% of On-Chain Taxable Crypto Activity

The CARF's narrow coverage exposes a structural blind spot in global tax oversight, where the majority of on-chain activity remains effectively invisible to regulators. This matters for exchanges, tax authorities, and compliance firms, as it suggests current reporting standards are misaligned with actual transaction flows. The key question is whether jurisdictions will broaden reporting mechanisms to close this gap, or if the framework's limitations will persist, leaving enforcement uneven across markets.