Ireland to Exclude Cryptocurrency from New Tax-Favored Investment Accounts

ChainCatcher report: Ireland is preparing to exclude cryptocurrencies from its government-designed personal investment account, scheduled for launch in 2027, which will allow savers to invest in listed stocks, bonds, and exchange-traded funds (ETFs). The Irish government has classified cryptocurrencies and derivatives as “highly complex and high-risk products” in its Retail Investment Tax Roadmap, thereby excluding them from eligible assets. The new account will feature an unspecified tax-free threshold, with amounts above the threshold subject to a low annual tax based on average value; the existing deemed-disposal regime—which imposes a 38% tax on unrealized gains every eight years—will not apply to investments held within the account. Account providers will be responsible for calculating, reporting, and paying taxes to the Irish Revenue Commissioners, while savers will face no minimum contribution requirements, holding periods, or lock-up restrictions. This asset list aligns with the European Commission’s September 2025 recommendation on savings and investment accounts, which excludes high-risk and complex derivatives and cryptocurrencies, except for tokenized financial instruments. Tax rates, thresholds, and annual contribution limits are expected to be finalized in the 2027 budget, to be announced in October. Research from the Central Bank of Ireland shows that 38% of Irish household financial assets are held in cash and deposits, above the EU average of 30%.