Crypto taxes in Uruguay: how cryptocurrencies are taxed

Uruguay doesn't (yet) have a specific cryptocurrency law, but that doesn't mean crypto is outside the tax system. DGI has already set criteria on how to frame it. Here we explain, simply, how the matter is viewed today and what to keep in mind before trading.

For DGI, crypto is an “intangible movable asset”

The starting point is classification: DGI does not treat cryptocurrencies as money (neither currency nor electronic money), but as an intangible movable asset. That framing determines how each transaction is taxed. For instance, in a consultation about swapping a property for crypto, DGI treated it as a barter, not an ordinary sale:

Gain on selling: capital income (IRPF)

If you buy and then sell crypto at a profit, that difference may be reached by IRPF as movable-capital income — the same category as interest and dividends (general 12% rate). And if your crypto activity is habitual and organized (for example, trading as a business), it could be framed as business activity. The capital-income category reference is here:

Holdings and the wealth tax

Holding crypto can also matter for the individual wealth tax (Impuesto al Patrimonio), depending on where those assets are deemed located and whether you exceed the non-taxable minimum. As a general rule, assets abroad not tied to activity in Uruguay tend to fall outside, but this is very case-dependent.

A shifting landscape

Crypto treatment is evolving: there are proposals to extend IRPF to gains currently untaxed (for example, in wallets or exchanges abroad). So, more than ever, it's worth documenting your transactions (dates, amounts, acquisition cost) and consulting an advisor before moving significant sums.

At a glance

In short: even without a crypto law, DGI already frames it as an intangible asset and the gain may be taxed under IRPF. Document everything and, for significant amounts, get advice. Confirm the current criteria with DGI.