Mexico Cryptocurrency Tax Guide 2026

Tax Classification of Crypto Gains

The SAT classifies cryptocurrency transactions as disposal of property or rights for ISR purposes. Gains from the sale, exchange, or use of cryptocurrencies to purchase goods or services are taxable as either:

• Business income (actividades empresariales): If the taxpayer engages in regular crypto trading or mining as a business activity. Taxed at progressive ISR rates (1.92% to 35%). Deductible expenses include electricity, equipment, exchange fees, and internet costs.
• Capital gains (enajenación de bienes): If the taxpayer holds crypto as an investment and disposes of it occasionally. Gains are added to annual income and taxed at progressive ISR rates. The cost basis is the acquisition cost in MXN at the time of purchase.

Both treatments result in the same progressive ISR rates (up to 35%). There is no separate capital gains rate for crypto in Mexico.

SAT Guidelines on Cryptocurrencies

The SAT has issued several criteria and rulings on cryptocurrency taxation (Criterios No. 1/2023 and 2/2023). Key positions include:

• Cryptocurrencies are considered an intangible asset (bien inmaterial) for tax purposes.
• Gains from crypto transactions are taxable income subject to ISR.
• The acquisition cost must be documented with CFDI invoices or exchange receipts.
• Cryptocurrency received as payment for goods or services must be invoiced using CFDI at the market value in MXN on the date of receipt.
• Mining rewards are considered income at the market value when received, with deductible expenses.
• Losses on crypto disposals may be offset against other capital gains (not against ordinary income).

Exchange Reporting Requirements

Cryptocurrency exchanges operating in Mexico must comply with anti-money laundering (AML) regulations under the Ley Federal para la Prevención e Identificación de Operaciones con Recursos de Procedencia Ilícita (LFPIORPI). Exchanges are classified as actividades vulnerables and must:

• Register with the SAT and obtain an RFC
• Report transactions exceeding MXN 57,818 (2026 threshold) to the SAT (through the Obligaciones reporting system)
• Implement KYC (Know Your Customer) procedures
• File monthly reports on transactions with virtual assets
• Notify the SAT of any suspicious activity

International exchanges serving Mexican residents may also be required to report. The SAT can request transaction data from foreign exchanges under tax information exchange agreements.

No Special Crypto Regime

Unlike some countries (e.g., Portugal, Germany), Mexico does not have a special tax regime for cryptocurrencies. There is no tax exemption for long-term holdings, no separate crypto tax rate, and no specific crypto deduction rules. All crypto transactions are subject to the general ISR framework. The SAT recommends maintaining detailed records of all crypto transactions, including dates, amounts in MXN, exchange rates, wallet addresses, and counterparties.

VAT (IVA) on Crypto Transactions

The SAT has confirmed that IVA (VAT at 16%) does not apply to the transfer of cryptocurrencies when used as a means of payment (similar to fiat currency). However, services related to crypto transactions (exchange fees, mining pool fees, advisory services) are subject to IVA at the standard 16% rate. Businesses that accept crypto payments must issue CFDI invoices in MXN terms and charge IVA on the underlying goods or services as usual.

FAQs

Do I need to pay tax on crypto-to-crypto trades?

Yes, the SAT considers crypto-to-crypto trades as a disposal for ISR purposes. The gain is calculated as the difference between the MXN value of the acquired crypto and the cost basis of the disposed crypto at the time of the trade.

How do I calculate my cost basis for crypto?

The cost basis is the acquisition cost in MXN, including fees. For assets acquired on different dates, use the average cost method (costo promedio) or specific identification. The SAT recommends the average cost method for simplicity.

Can crypto losses offset other income?

Crypto capital losses may only offset other capital gains (enajenación de bienes) in the same tax year. They cannot offset business income, salary, or rental income. Unused capital losses may be carried forward for 10 years.

Disclaimer

This guide provides general information about cryptocurrency taxation in Mexico for 2026. Tax laws, SAT criteria, and reporting requirements may change. The information is based on published SAT criteria and may not reflect individual circumstances. Always consult with a qualified Mexican tax advisor for advice specific to your situation. InvestmentKit does not provide tax advice.