Chainalysis found that most crypto transactions may not be covered by new international tax reporting standards. The blockchain analysis firm estimates only 14% of taxable on-chain activity falls under the OECD's CARF framework. This suggests a large gap in global crypto tax efforts.
Blockchain analytics company Chainalysis recently reported that a significant portion of crypto activity remains untracked by current tax-reporting frameworks. Their analysis suggests that the OECD's new Crypto-Asset Reporting Framework (CARF), designed for international tax transparency, only covers about 14% of taxable on-chain transactions identified by Chainalysis. This finding highlights a potential challenge for governments trying to collect taxes on digital assets. The report points to a need for broader regulatory coverage to ensure more comprehensive oversight of the crypto market globally.
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