Crypto▼ Bearish
Chainalysis: $457B in Crypto Activity, CARF Covers Just 14%
Chainalysis estimates $457B in taxable crypto activity over the past year; the OECD's CARF covers only 14%, leaving 86% of on-chain flows untracked.
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Global taxable crypto activity reached at least $457 billion over the past year, the blockchain analysis firm Chainalysis estimated. The OECD's Crypto-Asset Reporting Framework (CARF) covers only 14% of that volume, the report said.
The gap reflects a regulatory focus on centralized intermediaries. Most taxable flows move through DeFi protocols, peer-to-peer transfers, staking rewards and direct payment channels, according to Chainalysis. North America and the European Union accounted for the largest share of transactional volume.