Israel Central Bank Rejects Netanyahu’s Crypto Plan to Evade Sanctions

The Bank of Israel said cryptocurrency cannot bypass international sanctions and urged Israel to protect economic ties with major trading partners. More than 100 economists, including former central bank governor Jacob Frenkel, warned sanctions could hurt investment and living standards. Gadi Eisenkot and Yair Lapid criticized Netanyahu’s proposal, warning it could weaken national security and drive companies abroad. The Bank of Israel rejected Prime Minister Benjamin Netanyahu’s proposal to explore cryptocurrency as a way around potential international financial sanctions. In a statement on October 24, the central bank urged Israel to protect economic ties with major trading partners.

Also reported by Crypto News Flash, Coinspress.

Source: Crypto Front News