Cryptocurrency Capital Gains Mexico

When you sell or trade cryptocurrency, a digital asset bought, sold, or exchanged on blockchain networks. Also known as crypto, it behaves like property under Mexican tax law, not currency. That means every time you trade Bitcoin for Ethereum, sell Solana for pesos, or use Dogecoin to buy goods, you might owe capital gains tax, a tax on profit from selling an asset that increased in value. The Mexican tax authority, SAT, doesn’t care if you used a wallet, exchange, or peer-to-peer app—what matters is whether you made money.

If you bought 1 BTC for 200,000 MXN and sold it later for 350,000 MXN, that 150,000 MXN profit is taxable. There’s no exemption for small trades. Even if you didn’t convert to fiat, swapping one crypto for another counts as a taxable event. The SAT tracks this through bank reports, exchange disclosures, and even crypto analytics firms they partner with. Many people think Mexico is crypto-friendly because there’s no ban—but that doesn’t mean no taxes. In fact, failing to report can lead to fines up to 100% of the unpaid tax, plus interest. And unlike some countries, Mexico doesn’t offer a personal use exemption. That 500 MXN coffee you paid with ETH? If ETH rose in value since you bought it, you owe tax on the gain.

Mexican crypto regulations, the legal framework governing digital asset use and taxation in Mexico. are still evolving, but the rules on capital gains have been clear since 2020. You must file an annual tax return (Declaración Anual) and report all crypto transactions. You’re required to keep records: dates, amounts, values in MXN at time of trade, and wallet addresses. No receipts? No deduction. The SAT doesn’t accept screenshots or exchange summaries alone—you need documented proof. And if you’re using foreign exchanges like Binance or Kraken, they don’t report to Mexico—but that doesn’t protect you. The SAT can request data from banks that process P2P payments or crypto-linked debit cards.

What about losses? You can offset crypto losses against crypto gains in the same year, but not against other income like salaries. Carryforward losses aren’t allowed, so if you lost money in 2023 and made profits in 2024, you can’t use last year’s losses to reduce this year’s bill. That’s a big difference from the U.S. or EU rules. Also, mining income is treated as business income, not capital gains—so if you mine ETH, you pay income tax on the value when you receive it, not when you sell.

There’s no official crypto tax calculator from the SAT, so most users rely on third-party tools like Koinly or CryptoTaxCalculator to track transactions. But even those tools won’t save you if your records are incomplete. The biggest mistake? Thinking that if you didn’t cash out, you’re safe. You’re not. Every trade triggers a tax event. And with Mexico pushing for digital financial transparency, the SAT is getting better at catching unreported activity.

What you’ll find below are real cases and clear breakdowns of how people in Mexico handle crypto taxes—some right, some wrong. You’ll see how scams pretend to offer "crypto tax relief" in Mexico, how exchanges like HTX or Coinlim don’t file for you, and why even small trades matter. There’s no magic loophole. No hidden exemption. Just rules, records, and responsibility. Whether you’re holding for years or trading daily, the tax doesn’t disappear. It just waits for you to file.