Netanyahu explores blockchain against sanctions; Israel’s central bank objects
Benjamin Netanyahu said he requested an alternative economic framework, including blockchain, to prepare for possible banking sanctions. The Bank of Israel rejected cryptocurrency as a route around restrictions and urged preservation of trading relationships. No operational alternative payments system or implementation timetable accompanied the prime minister’s proposal for sanctions preparedness.
Geopolitics··Morning
Netanyahu requests an alternative economic framework
Israeli Prime Minister Benjamin Netanyahu said he had requested preparations for an alternative economic system against possible banking sanctions, including blockchain. He described the technology as one of the options for operating under potential international restrictions. No functioning alternative system was announced alongside the proposal. Officials in economic ministries said they knew of no such initiative. Senior figures in the Prime Minister’s Office also said they knew of no team working on it.[1], [2]
The central bank urges preservation of trading ties
The Bank of Israel rejected cryptocurrency as a way to circumvent sanctions. It said the country’s economic interests required preserving relationships with its principal trading partners and concentrating on preventing restrictions and their economic effects. The bank placed responsibility for that effort with the political leadership.[1]
Economists warn about access to foreign markets
Tomer Sharoni, head of crypto intelligence company Adresable, said changing the payment instrument would not turn a prohibited transaction into a permitted one, emphasizing that digital transactions could be traced. Former National Economic Council head Manuel Trajtenberg argued that international isolation was avoidable. Israel’s high-tech industry representatives also warned about isolation risks for businesses dependent on foreign investment and open markets. Netanyahu’s remarks did not name an established project team or an implementation timetable.[1]
