Is There a Foreign Currency Outflow without Currency? Crypto-Assets and the Outflow Tax in Ecuador

Abstract

This article examines the tax treatment of crypto-assets in Ecuador, in light of their increasing use in economic transactions with patrimonial and cross-border effects. Through a conceptual and comparative analysis, this text reviews how different jurisdictions and international organizations have classified crypto-assets for tax purposes, and contrasts these approaches with the position adopted by Ecuadorian monetary authorities. The analysis focuses primarily on the foreign currency outflow tax, assessing whether transactions involving crypto-assets may trigger the taxable event and identifying the legal limits imposed by the principles of tax legality and economic substance. The article concludes by highlighting the legal risks arising from the absence of explicit regulation and by proposing interpretative guidelines aimed at safeguarding legal certainty and preventing unlawful extensions of tax obligations.