Bank of Israel Rejects Netanyahu’s Crypto Plan to Bypass Sanctions

The Bank of Israel has rejected Prime Minister Benjamin Netanyahu’s proposal to explore cryptocurrency as a way to bypass potential international financial sanctions. The central bank urged the government to protect Israel’s economic relationships with major trading partners, highlighting concerns about the country’s financial connections and international banking access. The disagreement followed Netanyahu’s October 23 interview, in which he warned that Israel could face banking sanctions and requested plans for alternative financial arrangements. In an October 24 response, the Bank of Israel said cryptocurrencies could not provide a reliable way to circumvent sanctions.