Blockchain analytics firm Chainalysis said in a new report that more than $457 billion in potentially taxable on-chain crypto activity is expected globally in 2025, while existing international tax reporting frameworks capture only 14% of that total. The remaining 86%, according to the report, may fall outside effective oversight because it includes activity such as decentralized trading, peer-to-peer transfers, and on-chain income. Chainalysis based its findings on data from major public blockchains including Bitcoin, Ethereum, and Solana. The report also ranked the United States first by taxable activity at $112.6 billion, while North America led all regions with a combined $134.6 billion. Chainalysis added that the $457 billion figure should be treated as a floor estimate rather than a full count, since internal transfers within centralized exchanges are not visible on public blockchains and the analysis does not cover every blockchain or transaction type. The item was cited by crypto.news.
Blockchain analytics firm Chainalysis said in a report that global potentially taxable on-chain crypto activity is set to exceed $457 billion in 2025, while current international tax reporting frameworks cover only 14% of that amount.
That leaves 86% of such activity potentially outside the reach of those reporting systems, including decentralized trading, peer-to-peer transfers, and on-chain income.
Report draws on major blockchain data
The report analyzed data from major public blockchains including Bitcoin, Ethereum, and Solana.
Among individual countries, the United States ranked first with $112.6 billion in taxable activity. By region, North America led globally with a combined total of $134.6 billion.
Chainalysis calls the figure a floor estimate
Chainalysis said the $457 billion figure should be viewed as a floor estimate because internal transactions within centralized exchanges do not appear on public blockchains, and the analysis does not include every blockchain and transaction type.
The item cited crypto.news as the report source.
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