Netanyahu proposes blockchain to counter sanctions ahead of elections
Briefing by News4U · First published
Prime Minister Benjamin Netanyahu said Israel could use blockchain and crypto to avoid potential sanctions, drawing criticism from opponents and the Bank of Israel.
Cointelegraph reported that Prime Minister Benjamin Netanyahu said Israel could use blockchain and cryptocurrency to circumvent potential international sanctions, calling it a “national strategic tool” and an “alternative to sanctions,” ahead of the Oct. 27 elections. [1]
The Bank of Israel rejected the idea, stating cryptocurrencies “cannot be used as a route for bypassing sanctions.” Opposition figures and media critics also condemned the proposal, with some calling it a threat to national security. [1]
Sources
- Netanyahu floats use of blockchain as solution to potential financial sanctions
Cointelegraph · · Full text