Israel central bank issues rare rebuke of Netanyahu's sanctions comments
Summary
Israel's central bank has rebuked Prime Minister Benjamin Netanyahu after he suggested using cryptocurrency to build an “alternative economy” against possible sanctions. The Bank of Israel said cryptocurrencies cannot bypass sanctions and urged preserving ties with major trading partners.
Key Points
- The Bank of Israel issued a rare rebuke of Prime Minister Benjamin Netanyahu’s remarks on using cryptocurrency to withstand possible sanctions.
- Netanyahu said Israel should prepare an alternative economy and claimed he had ordered blockchain-based plans to be drawn up.
- The central bank said cryptocurrencies cannot be used to bypass sanctions and stressed the importance of maintaining economic relations with key trading partners.
- Netanyahu’s comments had already drawn criticism from rivals during Israel’s national election campaign.
