Conflict between the Bank of Israel and Netanyahu over cryptocurrencies

The Bank of Israel has rejected Prime Minister Benjamin Netanyahu's proposal to use cryptocurrencies and blockchain to protect the national economy from international sanctions. The regulator stated that digital assets should not serve as a tool for circumventing sanction restrictions.

The Central Bank emphasized that the correct economic course lies in maintaining trade ties with key partners and preventing the imposition of sanctions at the political level. Searching for workarounds through crypto assets is not within the competence of the financial regulator.

The Prime Minister responded to the criticism, noting that cryptocurrency is just one of the possible diversification tools, not the only method of protection. He thanked the Bank of Israel for its recommendations but stressed his right to independently determine the strategic development directions of the state.

Netanyahu referred to his long-term track record, asserting that his policies have led the State of Israel to unprecedented economic prosperity. The politician insists that he makes decisions believing them to be the most correct for the country, regardless of the regulator's positions.