Taxable activity across the cryptocurrency sector totaled $457 billion U.S. in 2025, according to a new report by Chainalysis. 

Of that amount, the U.S. accounted for $112.6 billion of activity in crypto markets that could be subject to government taxation.

The taxable activity includes gains on crypto holdings such as Bitcoin (CRYPTO: $BTC), as well as income earned from crypto mining, staking, lending, gambling, and payments.

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Regionally, North America accounted for $134.6 billion U.S. of what can be considered taxable activity, ahead of the European Union at $125.1 billion U.S. and Asia at…