Chainalysis: Over 90% of French crypto earnings go unreported, with $9.4 billion in taxable activities expected in 2025

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Chainalysis reports that over 90% of French crypto earnings remain unreported, with $9.4 billion in taxable activity expected by 2025. In 2024, only €368 million in gains were reported by 24,000 taxpayers. The EU’s DAC8 directive will enhance crypto compliance, requiring providers to collect user data by 2026, with tax authorities exchanging records by 2027. Current crypto compliance covers just 14% of taxable on-chain activity.

According to Huoxing Finance, blockchain analysis firm Chainalysis estimates that France’s potential taxable cryptocurrency activity in 2025 could reach $9.4 billion, comprising $5.2 billion in payments, $2.5 billion in capital gains, and $1.7 billion from mining and staking income. In 2024, French taxpayers reported only €368 million in net gains, involving approximately 24,000 individuals—an increase from around 7,700 individuals and €150.8 million in the previous year. Chainalysis notes that cryptocurrency tax non-compliance rates in some countries may exceed 90%. The EU’s eighth Directive on Administrative Cooperation (DAC8) took effect on January 1, 2026, requiring cryptocurrency service providers to collect user identity and transaction data. Tax authorities in member states will begin cross-border exchange of these records starting September 30, 2027; the CARF currently covers approximately 14% of global potential taxable on-chain activity.

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