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Netanyahu rebuked for plan to use crypto to bypass economic sanctions
The central bank said crypto cannot bypass sanctions, as more than 100 economists and former officials warned the plan could isolate Israel economically.
- On Friday, Israeli Prime Minister Benjamin Netanyahu announced he requested a plan to use blockchain technology to help Israel counter potential banking sanctions. "Of course I'm concerned," Netanyahu said, "You need to prepare an economy that can get around them."
- A database by the Jewish People Policy Institute tracks 139 international measures against Israel across 64 countries, with 111 currently active in finance, defense, and trade sectors, according to its October 18 snapshot.
- More than 60 economists and former officials warned earlier this week that international sanctions threaten the Israeli economy, citing Britain's plan to restrict settlement imports and risks from extremist violence against Palestinians.
- Netanyahu also warned that Israel should prepare for the eventual end of American military assistance, stating, "America has changed," and predicting the cessation of tens of billions of dollars in defense funding.
- Nir Hirschman, CEO of the Crypto Companies Forum, welcomed blockchain development on Friday but warned that public networks are transparent and "not a haven for hiding money," countering potential misconceptions.
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Israeli Prime Minister Benjamin Netanyahu, who is fighting the re-election this week, is being criticized by economists and political rivals after suggesting that Israel could use cryptocurrencies to help protect its economy from possible international sanctions. In an interview with Israel's Channel 10 on Friday (23), Netanyahu stated that he is preparing for a scenario in which wider sanctions could be imposed on the country.
·Rio de Janeiro, Brazil
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Netanyahu rebuked for plan to use crypto to bypass economic sanctions
Prime Minister Benjamin Netanyahu, who faces re-election this week, is drawing criticism from economists and political rivals after suggesting Israel could use cryptocurrency to help shield its economy from potential international sanctions.
·London, United Kingdom
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Total News Sources132
Leaning Left7Leaning Right24Center14Last UpdatedBias Distribution53% Right
Bias Distribution
- 53% of the sources lean Right
53% Right
L 16%
C 31%
R 53%
Factuality
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