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Crypto Regulation

2025 Taxable On-Chain Crypto Activity Hits $457B, CARF Covers Only 14%

Chainalysis estimates 2025 global potentially taxable on-chain crypto activity at $457B, with the US at $112.6B, North America at $134.6B, and the EU at $125.1B. Only 14% falls under the OECD’s Crypto-Asset Reporting Framework (CARF), leaving 86% involving DEXs, P2P transfers, and on-chain income streams. CARF data collection began on Jan 1, 2026 in 48 jurisdictions.

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