Potentially taxable onchain cryptocurrency activity reached at least $457 billion globally in 2025, yet international reporting rules designed to give tax authorities visibility into those transactions captured only about 14% of that total, according to a new analysis from blockchain intelligence firm Chainalysis.

The report, released Aug. 26, examined realized gains, income from mining, staking, lending and gambling, and crypto-denominated payments across six major blockchains: Bitcoin, Ethereum, Solana, Tron, BNB Smart Chain and Base. Activity inside centralized exchanges was excluded because trades, staking and lending conducted within their internal systems do not appear on public blockchains.

Chainalysis described the $457 billion…