Ireland is one of the leading EU countries in fintech and digital. It is not surprising that the crypto business is also developing here. Coinbase recently received a license here.
Country overview
#48
IrelandCountry stats
Rating Points
195
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
1.1%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
2
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
140
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
55 000
Total amount of crypto users out of the country's total population based on public data.
Taxation points
15
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
85.6
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Legally allowed
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
Legally allowed
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
Minor danger
The overall level of security in a given country based on open data.
Crypto Salaries
No info
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
Medium
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
Low
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
Crypto-to-crypto
This license type allows VASP to provide legal exchange from one cryptocurrency to another.
Crypto-to-fiat
This type of license regulates the exchange from cryptocurrency to fiat.
Wallet/Custody
This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.
ICO/STO
This indicator describes legal procedures for token sales and security token issuance. This country has a clear regulation framework and licensing procedures for entities that provide this activity.
Good
Medium
Bad
Ireland has a Minor danger security level according to our rating. Jurisdiction has 53.9 points (from 100) for safety level in Numbeo crime rating (1). The homicide level (2) is 0.4 per 100,000 inhabitants a year. Story of firearm-related death (3) 0.87 per 100,000 inhabitants a year.
Cryptocurrencies are not (4) legal tender and are neither guaranteed nor regulated by the Central Bank of Ireland (“CBI”).
We need a link to a legal document allowing crypto salaries in Ireland. However, it's likely possible.
The Central Bank of Ireland (CBI) is the primary crypto regulator. Although there is no separate crypto framework, the CBI regulates the industry by issuing bylaws.
According to CBI's official website (5), The 2021 Act extends the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021 ("CJA 2010 to 2021") to VASPs. You can find more information in the official CBI VASP Registration guide (6)
Moreover, based on the CBI report (7), before MiCA came into force, crypto-assets had no regulatory framework in Ireland.
Based on Field Fisher's overview (8), it's legally possible to provide crypto investment activity in Ireland by launching the following types of legal entities:
-Undertakings for the Collective Investment in Transferable Securities (“UCITS”)
-Alternative Investment Funds (“AIFs”)
Token offerings are also legal, although there are still no cases.
Based on Funds Europe (9), the first AIFs got approval in 2022 to “obtain indirect exposure to bitcoin by acquiring cash-settled bitcoin futures listed on the Chicago Mercantile Exchange.”
In 2024 Ireland has started MiCA implementation. According to Dominic Conlon (10) assumption in July 2024 Ireland had already 15 VASP approved by CBI. Detailed FAQ dedicated to MiCA implementation in Ireland is published on the CBI website (11). Ireland gives for already operating companies 12 months up to 29th December 2024. However, local legislators haven't approved crypto bill up to December 2024 and it's not clear will they have time to do it before EU deadline.
| Tax name | Index |
| PIT tax Min | 20 |
| PIT tax Max | 40 |
| Corporate tax (CIT) | 25 |
| Min Individual CGT (for crypto) | 33 |
| Max Individual CGT (for crypto) | 33 |
| Wealth tax Min | 0 |
| Wealth tax Max | 0 |
PIT
For transactions subject to Income Tax, you'll pay (12) Income Tax at either 20% or 40% depending on which Income Tax band you fall into.
CIT
Corporate tax is chargeable (13) as follows on income and capital gains: Standard rate on income('trading rate') is 12,5%, Higher rate on income('passive rate') is 25%.
CGT
For transactions subject to Capital Gains Tax, there is (14) a flat rate of 33%.
1)Crime Index by Country 2023 Mid-Year
2)List of countries by intentional homicide rate
3)List of countries by firearm-related death rate
10)Ogier. Ireland to prepare new AML legislation on crypto
11)Central Bank of Ireland. MiCAR
12)Koinly Ireland Crypto Guide
14)Koinly Ireland Crypto Guide
Last update: December 2024