Bank of Israel Rejects Netanyahu’s Crypto Sanction-Evasion Plan

The institution stressed that instead of seeking alternatives to bypass possible international sanctions against the nation, Israel should focus on preventing these from happening and affecting the country’s economy. Netanyahu said there were other alternatives to crypto to achieve the same objective. The Bank of Israel responded to a public proposal from Prime Minister Benjamin Netanyahu, who floated the idea of using cryptocurrency to skirt hypothetical sanctions on the Israeli economy. In a statement, the institution declared that the right thing for Israel’s economy “is preserving the economic relationships with our principal trade partners and focusing on preventing sanctions and their negative influence on the economy.” Furthermore, the bank assessed that the issue fell “within the responsibilities of the political echelon, and it should act to advance it.” On Friday…

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