Chainalysis said in a new report that global potentially taxable on-chain crypto activity will reach at least $457 billion in 2025, while the OECD’s Crypto-Asset Reporting Framework, or CARF, covers only about 14% of that on-chain taxable activity. The report put the U.S. total at about $112.6 billion, with North America leading all regions at $134.6 billion and the European Union close behind at $125.1 billion. Its estimate includes realized gains, mining, staking, lending income, and payments denominated in crypto assets, but excludes trading activity that takes place inside centralized exchanges. Chainalysis said CARF will begin data collection on Jan. 1, 2026 across 48 jurisdictions, including the U.K. and the EU. Former OECD adviser Colby Mangels, who helped develop CARF, said the framework was built around intermediaries engaged in crypto transactions, leaving a large share of DeFi activity outside the reporting perimeter where there is no centralized operator or custodial relationship.

South Korea's Ministry of Economy and Finance has finalized its 2026 tax revision plan, confirming that the long-planned cryptocurrency investment income tax will take effect on Jan. 1, 2027, with no further postponement. Under the finalized scheme, annual gains exceeding KRW 2.5 million (around $1,740) will be taxed at 22%, and the first tax filing is set for May 2028. The ministry also pointed to the OECD's Crypto-Asset Reporting Framework (CARF), which it said will allow South Korea to receive overseas transaction data from 48 participating jurisdictions starting in 2027, including Japan, Germany and France. While the government has made its timetable clear, the measure could still be revised or delayed by the National Assembly. Opposition lawmakers, meanwhile, continue to push for scrapping the crypto tax altogether. Techub News first reported the development, citing crypto.news.

Japan's NTA releases guidelines for implementing the OECD Crypto-Asset Reporting Framework (CARF) from Jan 1, 2026, requiring exchanges to collect user tax residency and automatically share cross-border transaction data. First reports due April 2027.