CRYPTO & TAXES IN MEXICO
Does the SAT tax my cryptocurrencies?
Direct answer
Buying and holding crypto is not a taxed event in Mexico: you owe nothing simply for owning it. Selling it, swapping it for other crypto or paying with it can each be a taxable event, because the SAT treats crypto as intangible property under the general rules for disposal of assets.
What is and is not a taxable event
Mexico has no crypto-specific tax law. The Fintech Law defines "virtual assets", and the SAT taxes them as intangible property under the general rules for disposal of assets (enajenación de bienes).
So simply holding crypto does not create tax. The taxable moment is a change of ownership: selling for pesos, swapping for another crypto, or using it to pay.
- Not taxable: buying and holding crypto.
- Can be taxable: selling for pesos or foreign currency.
- Can be taxable: swapping one crypto for another.
- Can be taxable: paying for goods or services with crypto.
How the gain is taxed
The gain is the sale price minus your proven acquisition cost, adjusted for inflation (INPC) between purchase and sale. With no purchase records, the gain and the tax can be computed on a much larger figure.
For occasional operations the gain stacks onto your other income and the progressive ISR scale applies, from 1.92% to 35% depending on your total income. If the activity is habitual, it can be treated as business activity.
- When there is no habitual activity, an annual exemption applies to the disposal of personal movable property; the amount is updated every year, so ask us in your consultation for the current figure.
2026: the SAT already receives platform data
From 2026, under the OECD Crypto-Asset Reporting Framework (CARF), exchanges and virtual-asset intermediaries must report the operations of Mexican users to the SAT. International automatic exchange expands in 2027.
This does not create a new tax or change the rates: it changes visibility. Information that used to be hard to cross-check now reaches the authority, so keeping your records in order matters. Everything is valued in pesos at the official Banxico exchange rate and the annual return is due by April 30 of the following year; confirm your case in your consultation.
Frequently asked questions
Does paying with crypto count?
It can. Paying with crypto means you hand over one asset in exchange for another (the good or service), so it can be a disposal or a swap and generate a gain if the value rose since you acquired it. Ask us in your consultation how your case is valued.
Does a "stable" coin avoid this?
No. Stablecoins are virtual assets for tax purposes, so selling, swapping or paying with them can be a taxable event just like any other crypto. Their peso value simply tends to move less.
What if I trade on a foreign exchange?
Trading on a platform outside Mexico does not exempt you from filing in Mexico if you are a tax resident here. With international reporting starting in 2026 and expanding in 2027, data from those platforms can reach the SAT too.
Related questions
Continue with the rest of the crypto & taxes series:
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