Key facts
- Netanyahu suggested Israel could use cryptocurrency to bypass potential international sanctions.
- The Bank of Israel stated cryptocurrencies cannot serve as a route to bypass sanctions.
Israeli Prime Minister Benjamin Netanyahu is facing criticism from economists and political rivals for suggesting Israel could use cryptocurrency to bypass potential international sanctions. The Bank of Israel stated that cryptocurrencies cannot serve as a route to bypass sanctions and urged focus on preventing them.
Prime Minister Benjamin Netanyahu's suggestion to use cryptocurrency to bypass sanctions has drawn significant criticism from economists and political rivals, who warn of severe economic consequences for Israel, including higher unemployment and a fall in foreign investment.
Prime Minister Benjamin Netanyahu is facing criticism for suggesting Israel could use cryptocurrency to bypass potential international sanctions, a scenario he outlined in an interview with Israel's Channel 10 on Friday. The comments come as Britain, France and Canada recently announced they would block imports from Israeli settlements in the West Bank. Netanyahu stated that "currencies that can bypass (sanctions)" were being worked on, and when asked if he meant cryptocurrency, he replied, "Very true."
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