Politics · Other · 7 hrs ago
Netanyahu weighs crypto plan as Israel faces possible banking sanctions
Benjamin Netanyahu is considering a crypto-based system to help Israel cope with possible international banking sanctions.
He said he had asked advisers to prepare a plan that could route financial transactions around traditional banks.
Israel has not faced full restrictions on its banking system, though several countries have imposed measures against settlers, organizations and some Israeli officials, and targeted trade with settlements.
The Bank of Israel says cryptocurrency cannot bypass sanctions and urges the government to protect Israel’s economic ties with major trading partners.
Opposition leaders also criticized the idea, warning it could isolate the country and harm businesses.
Israel’s economy depends on global trade and investment, including a technology sector that uses banks to work with overseas customers.
Netanyahu said he would consider the central bank’s criticism, while Israel’s next election is scheduled for October 27.
Benjamin Netanyahu says Israel should prepare for possible international banking sanctions by considering cryptocurrency and other ways to route transactions around the traditional banking system.
He said on Friday that he had commissioned a plan and identified blockchain technology as one option.
The Bank of Israel said cryptocurrencies cannot be used to bypass sanctions and urged the government to preserve trade relationships and prevent sanctions.
Opposition figures criticized the proposal, warning it could isolate Israel and harm its economy.
The reports say several countries have imposed measures targeting Israeli settlements, but no full restrictions on Israel’s banking system have been imposed.
- Who
- Israeli Prime Minister Benjamin Netanyahu proposed preparing for possible sanctions. The Bank of Israel and opposition figures criticized the idea.
- What
- Netanyahu said Israel should prepare an alternative economic system and consider cryptocurrency and blockchain to bypass potential banking sanctions.
- When
- Netanyahu made the comments on Friday, October 23, 2026. The Bank of Israel and opposition leaders responded on Saturday, October 24.
- Where
- Israel; Netanyahu discussed the proposal in an interview with Israel’s Channel 10.
- Why
- Netanyahu said Israel must prepare for possible international banking sanctions. The reports link international pressure to Israel’s policies in the West Bank and Gaza.
Benjamin Netanyahu
Bank of Israel and opposition critics
Response to possible sanctions
Benjamin Netanyahu
Netanyahu said Israel should prepare an alternative economic system and consider cryptocurrency and blockchain.
Bank of Israel and opposition critics
The Bank of Israel said cryptocurrencies cannot be used to bypass sanctions and urged the government to preserve economic ties and prevent sanctions.
Risks of the proposal
Benjamin Netanyahu
Netanyahu said Israel must prepare for possible banking sanctions.
Bank of Israel and opposition critics
Opposition figures warned that the proposal could isolate Israel and damage its economy; Gadi Eisenkot said it threatened national security.
Twelve major countries, led by Britain, pledged coordinated measures against Israeli settlements in the West Bank.
Netanyahu told Channel 10 he had commissioned a plan to prepare for possible banking sanctions and said cryptocurrency could be an option.
The Bank of Israel rejected the proposal, and opposition figures criticized it.
Netanyahu said he had heard the Bank of Israel’s concerns and would take them into account.
- Plan
- Netanyahu said he had commissioned a plan for a possible alternative economic system.
- Technology
- Netanyahu named blockchain as one option.
- Central bank position
- The Bank of Israel said cryptocurrencies cannot be used to bypass sanctions.
- International measures
- Twelve major countries, led by Britain, pledged coordinated measures against settlements in the West Bank.
- Banking restrictions
- The reports say full restrictions on Israel’s banking system had not been imposed.
6 sources
Bank of Israel, opposition heads pan PM’s proposal to use crypto to evade sanctions
Netanyahu says Israel mulling over crypto ahead of possible sanctions
Plan in Auftrag gegeben: Sorge vor Bankensanktionen - Netanjahu erwägt Kryptowährungen
Netanjahu erwägt Kryptowährungen gegen mögliche Sanktionen
Israel: Netanjahu erwägt Kryptowährungen gegen mögliche Sanktionen
What people are saying
We need to prepare ways to evade banking sanctions through an alternative economic system
cryptocurrencies cannot be used as a route for bypassing sanctions
The BibiCoin vision is a threat to national security.
The concern is that foreign banks will cease providing correspondent services to their Israeli counterparts, effectively severing Israel’s ability to conduct international economic activity
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הראשון לזהות?: "צריך להתארגן בכלכלה עוקפת לסנקציות בנקאיות, הבלוקצ'יין הוא חלופה, ביקשתי להכין תכניות לזה". נתניהו בראיון לערוץ 10 על ההיערכות לחרם כלכלי בינלאומי וסנקציות כלכליות על ישראל