Ireland Bars Crypto From State Savings Scheme Targeting $203B in Deposits
Ireland is creating tax-advantaged savings accounts for every adult, but crypto will be excluded. The accounts will allow holdings in shares, bonds, funds, ETFs and some insurance products, with no minimum contribution or lock-in, and a cap plus tax-free threshold to be set on Budget day. The goal is to shift money from the roughly €175 billion held in household deposits into longer-term investments. The exclusion comes as the government plans to improve the tax treatment of included assets, including removing the “deemed disposal” rule from these accounts. Irish households currently invest far less directly in markets than the EU average, despite Ireland’s large fund industry. Crypto ownership is relatively common, especially among younger men, but the move also fits a broader crackdown on crypto-related financial crime and money laundering.
