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[POLITICS] · Israel, United States, United Kingdom, France, Canada · 86 sources

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Netanyahu proposes blockchain economy to bypass potential sanctions

Israeli Prime Minister Benjamin Netanyahu has called for the development of an alternative economic framework using blockchain technology and cryptocurrencies to mitigate the impact of potential international banking sanctions. Speaking in an interview with Channel 10, Netanyahu expressed concern that Israel could face increasing economic isolation and suggested that the country must prepare an economy capable of functioning despite such restrictions.

The Bank of Israel has formally rejected the proposal, stating that digital assets and blockchain do not provide a reliable or viable method for circumventing government-imposed sanctions. The central bank emphasized that protecting the economy requires maintaining strong financial relationships with major trading partners rather than seeking technical workarounds that could lead to further economic instability or secondary sanctions.

Netanyahu also warned that US military aid to Israel may not continue indefinitely, urging the nation to strengthen its military self-reliance. These statements come amid growing international pressure regarding Israeli policies in Gaza and the West Bank, including potential trade restrictions from countries like the United Kingdom, France, and Canada regarding settlement imports.

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Bank of Israel · Benjamin Netanyahu · Channel 10 · Gadi Eisenkot · Israel · United Kingdom · United States · Yair Lapid

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