ME News reports that on August 31 (UTC+8), Ireland’s Deputy Prime Minister and Minister for Finance, Simon Harris, announced that the new state-backed savings and investment scheme will exclude crypto assets and derivatives. The initiative aims to encourage residents to channel bank deposits into traditional capital markets; Irish households currently hold approximately $197 billion in bank deposits, with cash accounting for about 38% of their financial assets. The scheme is open to tax-resident individuals aged 18 and older, allowing them to hold exchange-traded funds, listed company stocks, and corporate bonds under a simplified tax regime, replacing the 33% capital gains tax and 41% fund exit tax with a fixed annual fee above a tax-free threshold. Detailed operational guidelines are expected to be released in October, with accounts planned for launch in 2027. Ireland’s Department of Finance has also published a national anti-money laundering strategy extending through 2030. Under the new rules, beginning in 2027, regulated service providers must verify ownership of external wallets when processing unhosted wallet transfers exceeding $1,150 and implement automated controls to identify transactions with incomplete information. (Source: ODAILY)
Ireland's New State-Supported Investment Plan Excludes Crypto Assets
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Summary
Ireland’s new state-backed investment plan, announced by Finance Minister Simon Harris, excludes crypto market assets and derivatives. The initiative aims to redirect household deposits—totaling $197 billion—into traditional markets such as ETFs and stocks. Tax-resident adults will benefit from a simplified tax system, replacing high capital gains taxes with a fixed annual fee. Details of the rules will be finalized in October, with the program set to launch in 2027. The Crypto Fear and Greed Index may respond as regulatory focus shifts toward compliance and traditional finance. Ireland has also introduced a 2030 anti-money laundering strategy requiring wallet verification for non-custodial transfers exceeding $1,150.
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