Taxes and crypto in Mexico: how to talk to your accountant about USDC and Bitcoin

What changed in 2026 (and why it affects you)

Until 2025, the SAT depended on reports that the platforms sent periodically. It was information in dribs and drabs. But in 2026, two big things changed:

1. Article 30-B of the Federal Tax Code

Since April 1, 2026, digital platforms that operate in Mexico (Mexican and foreign) are required to give the SAT electronic access, in real time, to the transaction information of their users [1][2].

This does not mean that the SAT sees your messages or your private life. It means you can check how much you bought, when and at what price. Tax information. Nothing more, but nothing less.

Platforms must maintain a five-year searchable archive and send a formal notice to the SAT before April 30, 2026 [5].

2. CARF: the international automatic crypto reporting

Mexico joined the OECD framework called CARF (Crypto-Asset Reporting Framework). This means that crypto platforms around the world will automatically report transactions by Mexican users to the SAT. The first massive data exchange will be in September 2027, covering transactions from 2026 [8].

75 countries have already committed to implementing CARF. There's nowhere to hide, and there's no point in trying.

What this means for you: the SAT will have much more visibility over your crypto movements. The good news is that declaring correctly is easier than it seems. And doing it well avoids fines ranging from 55% to 75% of the omitted tax.

How does the SAT classify crypto?

The SAT does not consider Bitcoin, USDC or any crypto as currency. Nor as currency. The Fintech Law (article 30) defines them as representations of value that are transferred electronically [10].

For tax purposes, crypto is treated as intangible personal property. Think of it as if they were digital property. When you sell them, the same rules apply as when you sell any other asset.

The main tax generated is the ISR (Income Tax), specifically under the rules for the disposal of assets [6][9].

Three scenarios with real numbers

Let's get down to business. These are the three most common cases that your accountant needs to understand.

Scenario 1: You bought USDC and sold them when the exchange rate rose

María bought 500 USDC when the dollar was $17.50 MXN. Months later, he sold those 500 USDC when the dollar was $18.20 MXN.

This gain is declared as disposal of assets. The rate depends on your total annual income (progressive rate, up to 35%).

Scenario 2: You bought Bitcoin and sold it more expensive

Carlos bought 0.01 BTC when the price was $1,500,000 MXN per Bitcoin. A year later, he sold when the price rose to $2,000,000 MXN per Bitcoin.

Same treatment: the difference between the purchase price and the sale price is your taxable profit.

Scenario 3: You bought crypto and haven't sold anything

Andrea bought 1,000 USDC and 0.005 BTC. He hasn't sold anything. They are still in your Bitsave balance.

If you do not sell, there is no tax generating event. Buying and holding crypto does not generate ISR. The tax is paid when you sell and make a profit.

What your accountant needs from you (and how Bitsave helps you)

When you meet with your accountant to talk about crypto, you need specific data. Not a “well I bought some Bitcoin”. You need this:

The information you should bring:

1. Date of each purchase.Exact day you bought crypto.

2. Amount in pesos of each purchase.How much did you deposit?

3. Type of crypto.USDC, Bitcoin, etc.

4. Date of each sale.Exact day you sold.

5. Amount in pesos of each sale.How much did you receive?

6. Commissions paid.Platform commissions are deductible.

How to get this information in Bitsave:

Bitsave gives you access to your complete movement history from the app. You can see each purchase, each conversion and each withdrawal with date, amount and type of crypto. Your accountant can use this information directly to prepare your return.

Organize your crypto finances starting today. Open your Bitsave account →

Where is it declared in the Annual Declaration?

For individuals, in the Annual Declaration (which is presented every April insat.gob.mx):

1. Enter tosat.gob.mx → Declarations → Annual Declaration

2. Find the section corresponding todisposal of assets

3. Report thenet profit(sales price less acquisition cost)

4. If you had losses, they are also reported (they can be offset against future profits)

The deadline to declare the 2025 financial year is April 30, 2026.

6 myths about taxes and crypto in Mexico

Myth 1: "If I don't sell, the SAT won't find out"

The SAT now has real-time access to your transactions on platforms [1]. Know that you bought even if you haven't sold. The good news: buy and hold does not incur tax.

Myth 2: "Cryptos are anonymous, no one tracks them"

Regulated platforms (like Bitsave) verify your identity when you sign up. With CARF, even international platforms will report your transactions to the SAT [8].

Myth 3: "I only pay taxes if I earn a lot"

Any gain from the sale of crypto assets is taxable. Currently, in Mexico there is no specific exemption applicable to this type of assets.

Although the law provides for certain exemptions for the disposal of assets, these are not designed or confirmed for cryptoassets, so in practice it is considered that any gain must be declared.

Myth 4: "My accountant doesn't know about crypto, it's better not to declare"

Failure to declare exposes you to fines of 55% to 75% of the omitted tax, plus surcharges. Better take the organized information to your accountant. This article helps explain exactly what you need to know.

Myth 5: "If I use a foreign platform, it does not apply"

With CARF, platforms from 75 countries will report Mexican transactions to the SAT [8]. It doesn't matter if you use a platform in Singapore or Switzerland.

Myth 6: "Digital dollars (USDC) do not count as crypto"

USDC is a virtual asset under the Fintech Law [10]. If you buy USDC at one exchange rate and sell at a higher exchange rate, that gain is taxable. The difference is that USDC is much more predictable than Bitcoin in terms of price.

Frequently asked questions

Do I have to declare crypto even if I haven't sold anything?

No. ISR is generated when you sell and make a profit. Buying and holding crypto does not generate tax liability on its own. However, the SAT can see that you have crypto, so make sure your declared assets are consistent.

What happens if I don't declare my crypto earnings?

You risk fines of 55% to 75% of the omitted tax, plus surcharges. With the real-time access of the SAT to the platforms (Art. 30-B CFF) [1], the probabilities of detecting discrepancies increased significantly.

Can crypto losses be deducted?

Yes. Losses from the disposal of assets can be offset against gains of the same type in subsequent years. Keep complete records so your accountant can apply this compensation.

How much tax do I pay on my crypto profits?

It depends on your total annual income. The ISR rate for individuals is progressive: it ranges from 1.92% to 35% for very high incomes. Your crypto profit is added to the rest of your income.

Does Bitsave report my data to the SAT?

Starting in April 2026, all digital platforms that operate with users in Mexico are subject to article 30-B of the CFF [1]. Bitsave operates under regulation by the CMF of Chile and cooperates with the corresponding tax authorities.

What is CARF and how does it affect me?

The CARF (Crypto-Asset Reporting Framework) is an OECD framework that requires crypto platforms in 75 countries to automatically report their users' transactions to local tax authorities [8]. For Mexico, the first data exchange will be in September 2027.

Does exchanging USDC for Bitcoin count as a sale?

Yes. Each exchange between crypto (swap) is considered a disposal. If you bought USDC at one price and exchanged it for Bitcoin when the exchange rate was different, there is a profit or loss that must be reported [9].

Checklist: what you should do before April 30

• Gather the history of all your crypto transactions from 2025

• Calculate the profit or loss of each sale (sale price - purchase cost)

• Separate by type: USDC (exchange gain), Bitcoin (disposal of assets)

• Write down the commissions paid (they are deductible)

• Take all this to your accountant in time

• Submit your Annual Return before April 30, 2026

Save smart. Declare calm. Create your Bitsave account →

References

[1] Federal Tax Code, Article 30-B. Real-time access to the SAT.https:// siemprealdia.co/mexico/fiscal/informacion-de-plataformas-digitales-acceso-tiempo-real-sat/

[2] KPMG. "Mexico: Tax provisions affecting digital platforms in 2026 tax reform."https://kpmg.com/us/en/taxnewsflash/news/2025/11/mexico-tax-provisions-digital-platforms-2026-tax-reform.html

[3] KPMG. "Mexico: Miscellaneous tax resolution FY2026."https://kpmg.com/us/en/taxnewsflash/news/2026/01/mexico-miscellaneous-tax-resolution-2026-digital-platforms.html

[4] BloombergTax. "Mexico's New Digital Access Law Creates Continuous Tax Oversight."https://news.bloombergtax.com/tax-insights-and-commentary/mexicos-new-digital-access-law-creates-continuous-tax-oversight

[5] Phonoa. "Mexico Real-Time Data Access Mandate (Rule 2.9.21)."https://www.fonoa.com/resources/blog/mexico-rule-2-9-21-marketplaces-saas

[6] BeInCrypto. "Taxes on cryptocurrencies in Mexico in 2026."https://es.beincrypto.com/aprende/impuestos-criptomonedas-mexico-guia-complete-sat/

[7] Bleap Finance. "How to pay taxes for crypto in Mexico: SAT 2026 Guide."https://www.bleap.finance/es-mx/blog/como-pagar-impuestos-por-cripto-en-mexico

[8] CryptoTrend. "CARF went into effect in 2026."https://criptotendencia.com/2026/02/02/carf-entra-en-vigor-en-2026-lo-que-cambia-para-el-inversor-minorista-en-criptomonedas/

[9] Accountants of Mexico. "Tax aspects of cryptoassets."https://www.contadoresmexico.org.mx/Vida-colegiada/Aspectos-fiscales-de-los-criptotrabajos

[10] Law to Regulate Financial Technology Institutions (Fintech Law), Article 30.

This content is informational and does not constitute tax or legal advice. Tax laws change and every situation is different. Virtual assets are not legal tender in Mexico and are not backed by the Federal Government. Consult a certified accountant before filing your return.