Ireland's SIA Scheme Bars Crypto Assets from State Savings Program

Ireland's government is launching a new savings and investment program called the Savings and Investment Account (SIA) scheme, aiming to coax its citizens into capital markets. The program excludes crypto assets, derivatives, and interest-bearing cash deposits.

The SIA scheme targets Irish households holding between €170 billion and €197 billion in bank deposits, with only 2.3% of financial assets held in direct listed equity and debt compared to a 7.5% average across the EU.

The program will offer tax-advantaged treatment on traditional assets like shares, bonds, funds, ETFs, and insurance-based products. The scheme is set to launch in 2027 and targets Irish tax residents aged 18 and over.