CRYPTO & TAXES IN MEXICO
Do crypto gains go on your annual return and the RFC?
Direct answer
Yes: gains from selling, swapping or paying with crypto are income and go on your annual return, due April 30 of the following year, valued in pesos at the official Banxico exchange rate. The RFC is your Mexican tax ID, and exchanges usually ask for it when you open an account.
How gains land on your annual return
Mexico has no crypto-specific tax law. The Fintech Law defines “virtual assets” and the SAT taxes them under the general rules, as intangible property: selling, swapping (crypto-to-crypto included) or paying with crypto can each be a taxable disposal or exchange.
The gain is the sale price minus your proven cost (costo comprobable), adjusted for inflation (INPC). Without records of when and at what price you bought, the gain can be overstated and you end up paying more than you should.
- Buying and holding crypto is not taxable by itself.
- Every sale, swap or payment can be a separate event.
- Gains stack onto your other income on the progressive ISR scale.
The RFC: why platforms ask for it
The RFC is your Mexican tax ID. You need it to file, and exchanges such as Bitso and other financial platforms request it as part of onboarding and know-your-customer checks.
Having an RFC does not make you a business or force you to invoice: an individual can hold an RFC and pay tax only on real income. Occasional gains stack onto your annual income; habitual trading can be treated as business activity.
What not filing risks (and the CARF reality)
A foreign platform does not exempt you from filing in Mexico. If you do not file, the SAT can update your status and charge surcharges and, when bank deposits do not match your declared income, start a discrepancia fiscal process. Every case is measured differently.
From 2026, the OECD Crypto-Asset Reporting Framework (CARF) applies in Mexico: exchanges and intermediaries must report Mexican users’ operations to the SAT, and international automatic exchange expands in 2027. The information starts arriving whether or not you report it: confirm your case in your consultation.
Frequently asked questions
What if I only bought and held?
Buying and holding crypto is not taxed by itself in Mexico. The moment to review is when you sell, swap or pay with crypto, because that is where a taxable gain can appear.
What if I had losses?
Documented losses can be weighed against gains; without records there is nothing to support. You need proof of each transaction to back the calculation: ask us in your consultation.
Do I need an RFC to use an exchange?
In practice, yes: Bitso and other platforms request it to open and operate your account. Having an RFC does not force you to invoice or turn you into a business; it is your tax ID.
Related questions
Continue with the rest of the crypto & taxes series:
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Book your free consultationEducational content; not personalized tax advice.