Chainalysis released its Crypto Tax Report: Country-Specific Data, estimating the global scale of crypto-related taxable activity at about $457 billion across trading gains, on-chain income, and digital payments. According to Odaily, the report maps these activities by region and country using on-chain data to give tax authorities a geographic view of potential taxable activity within their jurisdictions.

The report said stablecoin payment flows are the largest and most widely distributed category. It also examined how cross-border channels affect direct and indirect tax obligations, and showed how on-chain intelligence can help tax authorities identify high-value, high-risk wallets to prioritize enforcement.