According to CoinMeta, the Irish government has announced the launch of new tax-free savings accounts aimed at encouraging retail investment through tax incentives and releasing a large amount of household cash assets. These government-backed accounts are expected to become operational at the beginning of next year and will be tax-free within a certain limit; beyond that limit, a “low, uniform tax rate” will apply. The specific limits and other details will be announced in the budget proposal on October 6th. This move is part of the EU’s effort to direct about 11 trillion euros (12.8 trillion US dollars) in deposits towards investment, with the goal of boosting European economic growth and increasing household wealth. Listed stocks, listed bonds, and ETF are all eligible for inclusion in this investment scheme, but derivatives and crypto assets are not permitted. The Irish government also stated that the current 38% tax rate applied to investment fund products will not apply to these state-supported accounts.