Netanyahu rebuked for plan to use crypto to bypass economic sanctions
The central bank said crypto cannot bypass sanctions as more than 100 economists warned the plan could damage trade, investment and growth.
- 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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144 Articles
(Seoul = Yonhap News) Reporter Kang Hoon-sang = Regarding Prime Minister Benjamin Netanyahu's proposal to use cryptocurrency to circumvent financial sanctions imposed on Israel, Israel's...
Netanyahu Faces Tense Elections: Hebron Offensive, Cryptocurrencies Polemic and Threats Against Iran
The Israeli election campaign comes to the polls on Tuesday, October 27, in a climate of growing political, military and economic tension, with Prime Minister Benjamin Netanyahu defending his security management as he faces criticism of the offensive in the occupied West Bank, his proposal to resort to cryptocurrencies to circumvent possible international sanctions and a new escalation of warnings about Iran. In parallel, hundreds of people prot…
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.
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