<p>Ireland will exclude cryptocurrencies from a new government-designed personal investment scheme set to open in 2027, Tánaiste and Minister for Finance Simon Harris confirmed on Aug. 31.</p><p>Harris <a href="https://www.instagram.com/reels/DcqCMcGMYkW/" rel="noopener noreferrer nofollow">outlined </a>the scheme in a video posted to Instagram, saying it was designed to "make a real difference in building up your own economic resilience." The accounts will allow savers to hold listed shares, bonds, funds, <a href="https://coinmarketcap.com/academy/glossary/exchange-traded-fund-etf" rel="noopener noreferrer">exchange-traded funds (ETFs)</a>, and insurance-based investment products. Crypto <a href="https://coinmarketcap.com/academy/glossary/asset" rel="noopener noreferrer">assets</a>, derivatives, and interest-bearing cash are all excluded.</p><p>The <a href="https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=intcom%3AC%282025%296800" rel="noopener noreferrer nofollow">scheme </a>targets the approximately €175 billion ($203 billion) sitting in Irish household deposit accounts. Irish households hold 38% of their financial assets in cash and deposits, compared with an EU average of 30%, <a href="https://www.centralbank.ie/docs/default-source/publications/consumer-protection-research/retail-investor-participation-in-ireland-consumer-research-and-analysis.pdf" rel="noopener noreferrer nofollow">according </a>to Central Bank of Ireland research. Direct investment in listed shares and bonds accounts for just 2.3% of Irish household financial assets, against an EU average of 7.5%.</p><h2 id="crypto-labeled-highly-complex-and-risky-under-eu-guidance">Crypto Labeled “Highly Complex and Risky” Under EU Guidance</h2><p>The exclusion of crypto follows the European Commission's September 2025 recommendation for savings and investment accounts, which called on EU member states to exclude highly risky and complex derivatives and crypto assets from tax-advantaged schemes. The Irish government similarly described cryptocurrencies and derivatives as "highly complex and risky products" in its roadmap for retail investment. The guidance does carve out an exception for tokenized versions of financial instruments that would otherwise qualify under the scheme's eligible asset list.</p><p>Each Irish tax-resident aged 18 or over will be entitled to one account. Contributions up to a tax-free threshold will escape tax entirely, with anything above it subject to a low annual flat rate. There will be no minimum contribution, no minimum lock-in period, and no tax liability triggered by transferring an account between providers. Account providers will calculate, report, and pay any tax due to Ireland's Revenue Commissioners on behalf of investors. The specific tax rate, threshold, and annual contribution cap are set to be announced on Budget Day, Oct. 6.</p><h2 id="deemed-disposal-rule-will-not-apply-to-new-accounts">Deemed Disposal Rule Will Not Apply to New Accounts</h2><p>The existing deemed-disposal regime, under which certain investments are treated as sold every eight years and taxed on unrealized gains at 38%, will not apply to assets held in the new accounts. Harris confirmed this directly and said the government would examine the rule more broadly in the coming weeks. The charge was reduced from 41% to 38% in the last budget. A 2024 government report on the funds sector recommended scrapping it altogether, and Harris told parliament earlier in 2026 that he was "not convinced" it remained fit for purpose.</p><p><strong>Related Article:<a href="https://coinmarketcap.com/academy/article/a44605c0-5626-445c-a368-cf6b9f494531" rel="noopener noreferrer"></a><a href="https://coinmarketcap.com/academy/article/ecbs-schnabel-central-banks-on-chain" rel="noopener noreferrer">ECB's Schnabel Urges Central Banks to Go 'On-Chain'</a></strong></p><p>Crypto's exclusion from the scheme comes despite meaningful retail adoption in Ireland. Central Bank of Ireland research found that roughly 10% of Irish adults hold<a href="https://coinmarketcap.com/academy/glossary/crypto-asset" rel="noopener noreferrer"> crypto assets</a>, predominantly young men, with an average holding of approximately €2,266 (around $2,632). More than half of those holders said they bought out of curiosity. The exclusion also follows Harris's launch of Ireland's first national Anti-Money Laundering strategy on Aug. 13, which introduced enhanced checks on transfers involving private crypto wallets and stricter due diligence requirements for firms dealing with overseas crypto companies.</p>

Ireland Bars Crypto From New Tax-Advantaged Savings Scheme

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