Of this approximately $700 trillion, approximately $685 trillion is considered “onshore” assets. That is, the assets are held by individuals and entities officially and responsibly resident in the country in which they operate or have a presence. According to estimates by the Organization for Economic Co-operation and Development (OECD), all foreign assets are worth about $12 trillion. That’s a lot of money, but in the context of global assets it’s a drop in the ocean, less than 2% of the total. Currently, that 2% is relatively lightly or not regulated at all, and a significant portion of it is cryptocurrency.
