How is crypto taxed in Mexico?

Crypto tax in Mexico works through existing income tax rules rather than a dedicated crypto regime. Mexico's tax administration, the SAT, expects gains from selling virtual assets to be declared, and the taxpayer ombudsman PRODECON has said such sales fall under the rules for disposing of goods. Because nothing crypto-specific has been legislated, several points remain open to interpretation.

How is crypto taxed in Mexico for individuals?

The gain is the sale price minus what you paid. Tax firm BDO describes PRODECON's view that an individual's crypto sale is a sale of movable property, with the cost adjusted for inflation. Occasional sales are reported in the annual return. Someone who buys and sells often may be treated as running a business, which brings registration, invoicing and monthly provisional payments.

PRODECON's 2021 analysis also noted that when a company buys from an individual and the operation exceeds 227,400 pesos, the buyer is expected to withhold 20% of the amount. Below that figure no withholding applies, but the income still has to be declared. Keeping records of each trade, including dates, amounts, platforms and wallets, helps prove your cost basis.

What is the crypto tax rate in Mexico?

There is no special rate. Taxable gains are added to your total income and taxed under the progressive annual ISR table for individuals, which runs from 1.92% to 35% depending on total income. Losses may be set against gains under the general rules, a topic covered in crypto losses and taxes.

Value added tax is less settled. BDO treats domestic crypto sales as subject to the 16% IVA on goods, while other commentators say there is no clear official position. Paying for goods or services with crypto carries IVA on that purchase in the normal way.

Is crypto legal in Mexico?

Yes, holding and using crypto is legal, but it is not legal tender. The 2018 Fintech Law requires financial technology firms to get Banco de México approval before operating with virtual assets. In a joint statement on June 28, 2021, Banco de México, the finance ministry and the banking regulator said financial institutions were not authorized to offer virtual asset operations to the public.

What does the SAT know about your crypto?

Exchanging, holding or transferring virtual assets as a business is classed as a vulnerable activity under Mexico's anti-money-laundering law. Platforms must register with the SAT, verify each user's identity and occupation, keep records and file reports. For 2026, Expansión reports that a single operation of about 24,635 pesos or more triggers a report, filed by the 17th of the following month. See crypto anti-money laundering rules for the wider framework.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.