CoinTelegraph
The Bank of Israel has publicly rejected the idea of using cryptocurrency to route around international sanctions, stating that crypto "cannot be used as a route for bypassing sanctions."
The statement puts the central bank in direct conflict with Prime Minister Benjamin Netanyahu, who had floated the proposal. Netanyahu's response was blunt: "I listen, but I do what I think [is best]."
The exchange sets up a rare open dispute between Israel's central bank and its prime minister over crypto policy, with the bank taking the orthodox position that digital assets cannot evade sanctions enforcement.
Frequently asked questions
-
Why did the Bank of Israel reject using crypto to bypass sanctions?
The central bank stated that crypto "cannot be used as a route for bypassing sanctions," taking the position that digital assets cannot evade international sanctions enforcement.
-
What was Netanyahu's response to the Bank of Israel?
Netanyahu replied: "I listen, but I do what I think [is best]", signalling he may push ahead with the idea despite the central bank's objection.
-
Was the Bank of Israel's statement about a specific cryptocurrency?
No, the statement was about cryptocurrency as a general mechanism for bypassing sanctions, not any single token or network.
-
Why does the sanctions-bypass idea matter for crypto markets?
A state openly exploring crypto as a sanctions workaround would raise regulatory and enforcement pressure on the whole sector, which is why central banks publicly reject it.
-
Is this an actual policy dispute inside Israel?
Yes, it is an open disagreement between the Bank of Israel and Prime Minister Netanyahu over crypto policy, stated publicly by both sides.
WuBlockchain
TheBlock
CryptoSlate
CoinDesk
Altcoin Daily
WatcherGuru