Bank of Israel Responds to Netanyahu: Crypto Cannot Be Used to Bypass Sanctions

Source: PANews2026/10/25 03:51

Analysis

The Bank of Israel's public rejection of Netanyahu's blockchain proposal marks a clear institutional split over whether crypto can serve as a sanctions-resilience tool, and it shifts the debate from technical feasibility to political responsibility. The statement, paired with economic ministry officials saying they were unaware of any such plan, suggests the proposal lacked interagency groundwork rather than reflecting settled policy. Watch whether the Prime Minister's office formalizes a working group, whether the central bank issues any formal guidance on digital assets and sanctions compliance, and whether trading partners or foreign regulators respond publicly. For crypto firms, the episode reinforces that sanctions evasion narratives remain a reputational and compliance risk even when raised by senior officials.

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PANews, October 25 – According to Times of Israel, the Bank of Israel issued a statement on Saturday local time responding to Prime Minister Benjamin Netanyahu's earlier proposal to use blockchain and cryptocurrency to cope with potential international banking sanctions, saying crypto "cannot be a way to bypass sanctions." The Bank of Israel said the best course for Israel's economy is to maintain economic relations with major trading partners and to work to avoid sanctions and the economic impact they bring, and that this issue is a political-level responsibility. Separately, according to ynetnews, officials in Israel's economic ministries said they were not aware of such a plan.

Bank of Israel Responds to Netanyahu: Crypto Cannot Be Used to Bypass Sanctions

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