Israel's Central Bank Rebukes Netanyahu Plan to Use Crypto to Dodge Sanctions
Summary
Israel’s central bank rejected Prime Minister Benjamin Netanyahu’s proposal to use cryptocurrency and blockchain to bypass possible international sanctions, arguing that preserving trade ties and preventing sanctions is the sounder course. Netanyahu said he had requested a plan but gave no details, and later said he would weigh the bank’s position. Economists warned the proposal could damage employment and foreign investment, while critics questioned its feasibility because public blockchains make transfers traceable. Israel has also used crypto tracing to target wallets it says were linked to Iran’s Revolutionary Guards. The dispute comes days before a national election, with polls suggesting a possible stalemate.
