Chainalysis estimates $457 billion in potentially taxable on-chain crypto activity occurred worldwide in 2025

The blockchain analytics company Chainalysis reported that at least $457 billion in potentially taxable crypto activity occurred on-chain worldwide in 2025. It contends that the primary international standard for reporting rules, namely, the OECD Crypto-Asset Reporting Framework (CARF), covers just 14 percent of the transactions. 

North America led $457B in potentially taxable crypto activity

According to Chainalysis’s report published on August 26, 2026, this amount includes capital gains, income from crypto mining, staking, and lending, and crypto-denominated transactions across six major blockchain networks. This statistic intentionally excludes crypto trading and any other operations performed inside centralized exchanges.

The largest share of $457 billion is attributable to North America, which generated almost $134.6 billion. The second-largest was generated by the European Union, at $125.1 billion. On its own separate report page, Chainalysis subdivides the same on-chain activities into crypto trading gains, on-chain income, and digital payments, and highlights the flows of stablecoin payments as the largest and most internationally distributed ones.

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