Global cryptocurrency taxable activity trends

A report by blockchain analytics firm Chainalysis indicates that global potentially taxable on-chain cryptocurrency activity reached $457 billion in 2025. This total encompasses realized capital gains, income from mining, staking, lending, and gambling, as well as crypto-denominated payments across major blockchains including Bitcoin, Ethereum, Solana, Tron, BNB Smart Chain, and Base.

The United States recorded the highest level of activity at $112.6 billion, followed by Germany ($24.1 billion) and China ($21 billion). Regionally, North America and the European Union accounted for $134.6 billion and $125.1 billion, respectively.

Data suggests a significant gap in regulatory oversight, as the OECD’s Crypto-Asset Reporting Framework (CARF) is estimated to cover only 14% of this activity. The remaining 86%—comprising decentralized exchange (DEX) transactions, peer-to-peer transfers, and self-custody activity—remains largely outside current international reporting standards.

In France, Chainalysis estimates approximately $9.4 billion in potentially taxable activity for 2025, including $5.2 billion in payments and $2.5 billion in realized capital gains. However, a substantial gap exists between these estimates and reported figures; for the 2024 tax year, French taxpayers reported roughly €368 million in net gains across 24,000 filings. France currently taxes net capital gains from digital asset disposals at a flat rate of 31.4%, with a small annual exemption for disposals under €305.

To mitigate reporting gaps, the European Union’s DAC8 directive will require crypto service providers to collect extensive user data and transaction records starting January 1, 2026, with the first international data exchanges scheduled for September 30, 2027.