Chainalysis estimates $457B in global on-chain taxable crypto activity in 2025, with the US accounting for $112.6B, though most DEX and self-custody activity remains outside regulatory reporting frameworks.
Regulation & Gov ·
Chainalysis puts global on-chain potentially taxable crypto activity at $457 billion in 2025, with the United States representing $112.6 billion of that total through realized gains, mining and staking income, and payments across both centralized and decentralized exchanges. The firm characterizes this as a conservative floor given that internal exchange transactions remain off-chain and unobservable. Only roughly 14% of taxable activity falls under the OECD's Crypto-Asset Reporting Framework, meaning peer-to-peer trades, self-custody transfers, and decentralized exchange volume largely escape its practical reach.