Crypto Tax Mexico: What You Need to Know About Reporting Crypto in Mexico

When you trade or hold cryptocurrency in Mexico, you’re not just investing—you’re creating a taxable event, a financial action that triggers legal reporting obligations under Mexican law. Also known as crypto income, these events are tracked by the Servicio de Administración Tributaria (SAT), Mexico’s tax authority that now requires crypto users to report gains and losses like any other asset. If you bought Bitcoin, sold Ethereum, earned staking rewards, or even swapped tokens on a decentralized exchange, you may owe taxes. Ignoring this isn’t an option anymore.

The SAT doesn’t care if you used Binance, Coinbase, or a peer-to-peer app. What matters is whether you made a profit. Every time you sell crypto for pesos, exchange one coin for another, or use crypto to buy goods, the difference between what you paid and what you got is taxable. The tax rate? It’s not flat—it’s based on your total annual income, just like your salary. If you’re in the highest bracket, you could pay up to 35% on your crypto gains. And yes, they know. The SAT has been working with local exchanges since 2021 to get transaction data. Even if you didn’t use a Mexican exchange, they can still find you through bank transfers or foreign reporting systems.

Keeping records isn’t just smart—it’s mandatory. You need dates, amounts, prices in pesos, and wallet addresses for every trade. No receipts? No deductions. Many people think they’re safe if they never cashed out, but swapping ETH for SOL still counts. There’s no exemption for small trades. A $50 profit on a meme coin? Still report it. And if you got crypto from an airdrop or reward? That’s income too, taxed at the peso value the day you received it. The SAT doesn’t care if it’s a joke token or a big name—value is value.

There’s no official crypto tax calculator from the government, so most people use third-party tools to track their history. But even the best app won’t save you if you didn’t record the original purchase price. And don’t assume your foreign exchange’s report is enough—Mexican law requires you to convert everything to pesos using official exchange rates from the Bank of Mexico. Missing one trade could trigger an audit. And audits don’t start with a warning—they start with a bank freeze.

What you’ll find below are real examples of how people in Mexico handle crypto taxes, what mistakes cost them, and how to stay compliant without overpaying. Some posts break down how to file manually. Others show you which exchanges give you the data you need. A few warn you about fake tax advice that’s just a scam. This isn’t about getting out of paying. It’s about paying the right amount, the right way, so you don’t lose your crypto—or your freedom—to a mistake you didn’t know you were making.