$457B in Crypto Activity Could Face Taxes as CARF Covers Just 14%, Chainalysis Says

The blockchain analysis firm Chainalysis revealed that, over the past year, the taxable crypto activity globally reached at least $457 billion. However, the report warns of a critical regulatory gap: the OECD’s Crypto-Asset Reporting Framework (CARF) apenas covers 14% of this volume, leaving out 86% of on-chain flows.

This discrepancy occurs because international regulations focus on centralized intermediaries, while most gravable capital moves through DeFi protocols, peer-to-peer (P2P) transfers, staking rewards, and direct payment channels. The report highlights North America and the European Union at the head of transactional volume, showing that traditional tax tools fail to encompass the decentralized ecosystem.

Faced with this scenario, it is anticipated that regulatory bodies will tighten supervision and push for new reporting obligations for non-custodial wallets and decentralized platforms. Users and platforms must prepare for greater integration of on-chain tax compliance mechanisms in the coming years.

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