Chainalysis: Global taxable crypto activity hits $457 billion

Global taxable blockchain digital currency activity reached $457 billion in 2025, according to a report by blockchain analytics firm Chainalysis. The total includes realized gains from centralized and decentralized exchanges, income from mining, staking, lending, and gambling, as well as crypto-denominated payments.

The United States led global activity with $112.6 billion, followed by Germany at $24.1 billion and China at $21 billion. Regionally, North America recorded $134.6 billion, the European Union $125.1 billion, and East Asia $54.7 billion.

Chainalysis noted that only 14% of identified on-chain taxable activities are covered by the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF). The remaining 86% consists of decentralized exchange activity, peer-to-peer transactions, on-chain earnings, and payment use cases.

In response to evolving landscapes, New Zealand has proposed tax-free gains for holders, while South Korea is rolling out revised tax guidelines.