Ireland Excludes Crypto From New State Savings Scheme Targeting €175 Billion
The Irish government has confirmed that cryptocurrency will not be included in a new state-backed savings scheme aimed at encouraging financial resilience among adults. The tax-advantaged accounts, set to launch next year with details finalized on October 6, will allow investments in shares, bonds, funds, and insurance products but exclude crypto assets along with derivatives and interest-bearing cash. The initiative targets the roughly €175 billion (about $203 billion) held by Irish households primarily in deposit accounts. Ireland lags behind EU averages for direct investment holdings, prompting this push to diversify savings behavior. The government also plans to relax tax rules on eligible investments within these new accounts. The decision comes amid a broader regulatory tightening of the crypto sector, including enhanced anti-money laundering checks and stricter oversight measures introduced earlier in August.
Topics: cryptocurrency savings schemes tax policy