Crypto assets will not be included in the tax-advantaged savings accounts Ireland is preparing to make available to every adult in the country.
Tánaiste and Finance Minister Simon Harris outlined the shape of the plan in an Instagram video posted on Sunday, saying he wants the accounts to 「make a real difference in building up your own economic resilience」. Reports say savers will be able to hold shares, bonds, funds, exchange-traded funds, and insurance-based products. Crypto assets are excluded, along with derivatives and interest-bearing cash.
One account for each adult tax resident
Each Irish tax resident aged 18 or over will be entitled to one account. Contributions up to a tax-free threshold will be fully exempt from tax, while anything above that level will be subject to a low flat annual rate. There will be no minimum contribution and no minimum lock-in period, though an annual contribution cap will apply.
The thresholds and rates are due on Budget day, October 6, and the accounts are expected to open next year.
A push to redirect about $203 billion in household deposits
The scheme is aimed at the roughly $203 billion (€175 billion) currently sitting in Irish household deposit accounts.
Research published by the Central Bank of Ireland in late 2025 found that Irish households hold just 2.3% of their financial assets in direct investments such as listed shares and bonds, versus an EU average of 7.5%. A little over 2.2% is held in investment funds. Both figures are among the lowest in the bloc, even though Ireland hosts more than €5 trillion in fund assets.
New accounts will not face the eight-year deemed disposal rule
Crypto’s exclusion comes as the government prepares to ease the tax treatment of the products that did make the list.
Harris confirmed that the deemed disposal rule will not apply to the new accounts. Under that rule, certain funds are treated as if they were sold every eight years and taxed at 38%. He also said the government would review 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 abolishing it altogether. Earlier this year, Harris told the Dáil he was 「not convinced」 the rule remained fit for purpose and called it 「outdated」.
About 10% of Irish adults hold crypto
Even so, crypto is one of the few assets Irish savers do hold.
Central Bank research found that about 10% of adults own crypto-assets, with ownership concentrated mainly among young men. The average holding was €2,266. More than half said they bought crypto out of curiosity.
Exclusion comes after a series of tighter AML steps
The decision to leave crypto out follows a broader tightening in the sector.
On August 13, Harris launched Ireland’s first national anti-money laundering strategy. It introduced enhanced checks on transfers involving private wallets and stricter due diligence for firms dealing with overseas crypto companies. The strategy built on a 30-point action plan published in June, which identified crypto-asset misuse as one of the country’s evolving financial-crime threats.
The savings scheme was first flagged in March and is set to be fully announced in Budget 2027.