Ireland Excludes Cryptocurrencies from New State-Backed Investment Scheme
The Irish government is launching a new state-backed investment scheme aimed at encouraging people to invest in shares, bonds, and ETFs rather than leaving their money in deposit accounts.
The scheme, which will be announced by Finance Minister Simon Harris, will not allow investments in cryptocurrencies such as Bitcoin or other high-risk assets like derivatives.
According to Patricia Callan, director of Financial Services Ireland, the goal is to boost investment in the stock market and create an investment culture in Ireland. She notes that people tend to be risk-averse and are deterred by the complexity of investing in the stock market.
The new scheme will have a tax-free threshold and no minimum investment level, making it easier for people to get started with investing.