Globally just 0.53% of cryptocurrency investors declared their cryptocurrency activity to their local tax authorities in 2022, according to a report published by Swedish crypto tax firm Divly.

The report reveals varying crypto tax payment rates across countries and continents. Finland has the highest rate (4.09%), while the Philippines has the lowest (0.03%). The US ranks 10th, with 1.62% of crypto investors declaring their assets. In Europe, Finland and Italy have the highest and lowest rates respectively. Italy's low rate may change due to new regulations. In Asia, Japan leads with a 2.18% rate, while the Philippines has the lowest rate due to unclear regulations.

Despite ranking 10th in tax payment rate (1.62%), the US has a large cryptocurrency adoption and population, leading to nearly twice as many crypto tax declarations compared to the second-highest country.