$457 Billion Crypto Tax Bombshell: Most Onchain Activity Fails to Meet Global Reporting Rules

A recent report from blockchain analytics firm Chainalysis has revealed that potentially taxable on-chain crypto activity reached more than $457 billion globally in 2025, with the United States accounting for roughly $112.6 billion of the total.

The OECD's Crypto-Asset Reporting Framework requires centralised exchanges to collect customer and tax-residency information and report transaction data, but Chainalysis found that this framework only covers 14% of on-chain taxable activity.

The remaining 86%, which includes decentralised exchange activity, peer-to-peer transfers, onchain income streams and payments, 'falls outside the framework's practical scope', according to the report.