Ireland has left crypto assets and derivatives out of its new tax-advantaged investment accounts, which are set to launch in 2027. However, listed stocks, bonds, ETFs and retail investment funds will be permitted.
Ireland’s Department of Finance stated in its retail investment roadmap that crypto assets and derivatives will be excluded from the new accounts, as they are regarded by the government as “highly complex and risky” products.
The new account will instead include listed shares, listed bonds, financial instruments traded on regulated markets, and funds deemed suitable for retail investors. Exchange-traded funds and some insurance-based investment products will also be eligible.
Set to launch next year, the new structure will be available to Irish tax residents aged 18 and above who have a Personal Public Service Number. Each person can hold one account, while approved providers will calculate, report and pay any tax due to Ireland’s Revenue Commissioners on the investor’s behalf.
There will be no minimum contribution requirement, although the government plans to set an annual contribution cap. The limit, tax-free threshold and low annual flat tax rate on balances above that threshold will be announced in Budget 2027, scheduled for Oct. 6.
Ireland’s New Investment Accounts Aim to Simplify Retail Taxes
Investments held in these accounts will remain outside Ireland’s existing investment tax rules, including the deemed-disposal system. Under the current rules, certain funds are treated as sold after eight years, meaning investors must pay tax on gains even when the investments continue to be held.
By excluding deemed disposal from the account and shifting tax duties to providers, the government aims to ease the filing burden on individual investors. Account holders will also be able to access their funds when needed, rather than dealing with the restrictions often linked to retirement products.
Cash deposits will not be eligible as investments within the account. Under the roadmap, providers may keep cash only on a temporary basis while an account holder arranges to purchase another qualifying asset.
Tánaiste and Minister for Finance Simon Harris said Irish households maintain high savings rates but invest relatively little in capital markets. Research from the Central Bank of Ireland, cited during discussions on the proposal in March, showed that just 2.3% of household financial assets were held in listed shares and debt securities, compared with an EU average of 7.5%.
At the time, Irish bank deposits stood at roughly €170 billion, based on figures reported by Reuters. Harris said inflation can erode the value of money kept in low-yield accounts, while the proposed system would bring several investment options under a single tax framework.
Ireland’s bank deposits stood at roughly €170 billion at the time, according to figures reported by Reuters. Harris said inflation can erode the value of money kept in low-yield accounts, while the proposed structure would bring several investment options under a single tax framework.
Crypto Remains Excluded From Ireland’s Tax Preferences
Excluding crypto means Irish residents will not receive the account’s tax benefits when purchasing Bitcoin, Ether or other digital assets directly. However, the roadmap does not prevent residents from holding or trading crypto through services that are legally allowed to operate in Ireland.
Irish authorities have kept market access separate from tax eligibility, allowing regulated crypto activity under European Union rules while leaving digital assets outside the new retail account. Crypto service providers operating in the country are overseen by the Central Bank of Ireland under the EU’s Markets in Crypto-Assets Regulation.
As reported in August, Ireland’s national AML strategy requires service providers to carry out enhanced checks on certain transfers involving self-hosted wallets. For transactions above €1,000, regulated firms must take measures to determine whether a customer owns or controls the private wallet address involved.
Ireland’s 12-month MiCA transition period came to an end on Dec. 30, 2025, ahead of the EU-wide deadline of July 1, 2026. Firms that had operated under national registrations needed to secure MiCA authorization or use another lawful pathway to continue offering covered services.
A separate Irish risk assessment published in June classified digital assets as a “very significant” risk for money laundering and terrorist financing. The assessment pointed to crypto-related fraud, sanctions evasion, tax enforcement challenges and activity in less-regulated areas such as decentralized finance.
Central bank data cited in the assessment showed that around 10% of Ireland’s population had invested in crypto by December. Authorities also gave the Gambling Regulatory Authority of Ireland responsibility for setting standards on crypto-related sources of funds by the second quarter of 2027.
MiCA Regulates Crypto Access Without Providing Tax Benefits
Under MiCA, an authorized crypto asset service provider can use passporting rights to serve customers across EU and European Economic Area markets. Ireland has become a key jurisdiction for firms seeking regulated access to the region, including Kraken, which received MiCA authorization from the Central Bank of Ireland in June 2025.
Not every provider has secured authorization. An August analysis found that 1,062 EEA firms in a TRM Labs dataset had yet to obtain MiCA approval after the EU’s final transition deadline. Only 281 of the 1,343 providers reviewed had received authorization by July 1.
TRM Labs reported that 12% of unauthorized providers had a High or Severe risk rating, compared with 2% among authorized firms. The blockchain intelligence company also found that unauthorized providers sent $5 billion directly to sanctioned counterparties, nearly three times the $1.7 billion associated with authorized firms.
MiCA covers areas including authorization, custody, disclosures and consumer protection for crypto service providers. Ireland’s investment account operates under a separate tax policy, allowing regulated crypto services to remain available while restricting which assets qualify for preferential retail tax treatment.
US Investors Can Access Crypto Through Select IRAs
Ireland’s approach differs from the options available to some investors in the United States. The U.S. Securities and Exchange Commission’s investor education office says custodians of self-directed IRAs may allow retirement funds to be invested in alternative assets, including crypto.
The SEC cautions that self-directed accounts can involve fraud, custody and valuation risks. Custodians generally do not assess an investment’s quality or legitimacy, leaving account holders responsible for verifying the asset and the promoter behind it.
Outside tax-advantaged accounts, the Internal Revenue Service classifies digital assets as property rather than currency for federal tax purposes. U.S. taxpayers may need to report income, gains and losses from crypto transactions, including asset sales and exchanges between different digital currencies.
The IRS has also introduced Form 1099-DA reporting for certain digital asset transactions handled by brokers. Under the current rules, covered brokers must provide details on qualifying sales, while taxpayers remain responsible for reporting taxable crypto income even when they do not receive the form.
