Ireland’s new state-backed savings and investment plan will exclude crypto assets and related derivatives, according to Deputy Prime Minister and Finance Minister Simon Harris. The program is designed to steer household bank deposits into traditional capital markets and is aimed at tax-resident individuals aged 18 and over. Under the proposed framework, eligible participants would be able to hold exchange-traded funds, listed company shares and corporate bonds through a simplified tax structure. A fixed annual fee above a tax-free threshold would replace the existing 33% capital gains tax and 41% exit tax on funds. Harris said detailed operating rules are expected in October, while the account scheme is scheduled for launch in 2027. Separately, Ireland’s Department of Finance has released a national anti-money laundering strategy running through 2030. Under the new rules, regulated service providers handling transfers above $1,150 involving unhosted wallets will be required from 2027 to verify ownership of the external wallet and use automated controls to identify transfers with incomplete transaction information, according to Bitcoin.com News.
Ireland’s new state-backed savings and investment plan will not include crypto assets or crypto derivatives, Deputy Prime Minister and Finance Minister Simon Harris said.
The plan is intended to encourage households to move bank deposits into traditional capital markets. Irish household bank deposits stand at about $197 billion, while cash accounts for roughly 38% of financial assets.
Plan targets adult tax-resident investors
The scheme is aimed at tax-resident residents aged 18 and over. It would allow them to hold exchange-traded funds, listed company shares and corporate bonds under a simplified tax structure, replacing the 33% capital gains tax and the 41% fund exit tax with a fixed annual fee above a tax-free threshold.
Detailed operating rules are expected in October, and the accounts are scheduled to launch in 2027.
AML strategy runs through 2030
Ireland’s Department of Finance has also published a national anti-money laundering strategy running through 2030. Under the new rules, from 2027, regulated service providers that process transfers above $1,150 involving unhosted wallets must verify ownership of the external wallet and use automated controls to identify transfers with incomplete transaction information, according to Bitcoin.com News.
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