Ireland Excludes Crypto From New State Investment Scheme

Ireland will exclude crypto assets and other high-risk products from a new state-backed savings and investment scheme, Tánaiste and Minister for Finance Simon Harris announced on Sunday, August 30. The initiative is designed to encourage households to move billions in deposits into traditional market investments.

Harris outlined the scheme's core features in a video posted to social media, stating it aims to help people build economic resilience. The accounts will be available to every Irish tax resident aged 18 or older, with one account permitted per person. Eligible investments will include listed shares, bonds, funds, and exchange-traded funds (ETFs). However, cryptocurrencies, derivatives, and interest-bearing cash will not be allowed.

The scheme will feature a tax-free threshold, with a low flat-rate tax applied annually to the value above that threshold. There will be no minimum contribution or lock-in period, though an annual contribution cap will apply. The specific tax-free threshold, tax rate, and contribution limit will be announced as part of Budget 2027 on October 6. Accounts are expected to open in 2027.

The initiative targets the substantial savings held in...