Bank of Israel Shoots Down Netanyahu’s Crypto Plan

The Bank of Israel said cryptocurrencies cannot be used to bypass sanctions. Netanyahu says he will weigh the objection but make the decision himself. 109 economists, including Nobel laureates, warned of severe damage from financial isolation. Officials in the economic ministries report no operational plan behind the proposal. Israel’s central bank has publicly rejected Prime Minister Benjamin Netanyahu’s idea that cryptocurrency and blockchain could keep the economy running under international banking sanctions.

Source: Crypto News Flash