With only a few days left until Israel's general election last Friday, Prime Minister Binyamin Netanyahu proposed that cryptocurrency and blockchain technology can be used to avoid international sanctions and help Israel withstand economic isolation. The Bank of Israel has rarely made a public rebuttal, saying that cryptocurrencies “cannot be used as a channel to circumvent sanctions,” but this has not shaken Netanyahu's thoughts. He said that he will consider the central bank's position, but he will still implement the plan he determines is most favorable. It wasn't just the central bank that issued the warning. Netanyahu's emergency plan was also fiercely criticized by more than 100 senior economists, business executives, and former public officials. They accuse the current administration of knowingly committing acts and is pushing Israel towards international economic boycotts and isolation, which may cause “irreversible damage” and weaken Israel's ability to guarantee defense spending. They predicted: “The Israeli banking system, local companies, exporters, investors, and especially the high-tech sector, which is the engine of economic growth, will lose their foundation of operation. Foreign capital will be completely withdrawn, unemployment will soar, and Israel's position in the global economy will collapse.”

With only a few days left until Israel's general election last Friday, Prime Minister Binyamin Netanyahu proposed that cryptocurrency and blockchain technology can be used to avoid international sanctions and help Israel withstand economic isolation. The Bank of Israel has rarely made a public rebuttal, saying that cryptocurrencies “cannot be used as a channel to circumvent sanctions,” but this has not shaken Netanyahu's thoughts. He said that he will consider the central bank's position, but he will still implement the plan he determines is most favorable. It wasn't just the central bank that issued the warning. Netanyahu's emergency plan was also fiercely criticized by more than 100 senior economists, business executives, and former public officials. They accuse the current administration of knowingly committing acts and is pushing Israel towards international economic boycotts and isolation, which may cause “irreversible damage” and weaken Israel's ability to guarantee defense spending. They predicted: “The Israeli banking system, local companies, exporters, investors, and especially the high-tech sector, which is the engine of economic growth, will lose their foundation of operation. Foreign capital will be completely withdrawn, unemployment will soar, and Israel's position in the global economy will collapse.”