Netanyahu seeks blockchain plan against possible sanctions

• Israeli Prime Minister Benjamin Netanyahu has requested a blockchain plan to prepare for possible international banking sanctions.
• He has not identified a proposed network, currency, drafting agency or implementation timetable.
• The Bank of Israel has rejected cryptocurrency as a reliable way to bypass sanctions.

Israeli Prime Minister Benjamin Netanyahu has requested a plan exploring blockchain technology as a potential way to circumvent international banking sanctions, he said in a Friday interview with Israel’s Channel 10 economic network.

The proposal comes amid growing international pressure over Israel’s settlement policies and concerns about possible restrictions on Israeli banks.

“One of them, certainly,” said Israeli Prime Minister Benjamin Netanyahu when asked whether blockchain could help address sanctions.

Netanyahu confirmed he had requested a plan, but did not explain who would prepare it or how it would work.

The Bank of Israel rejected cryptocurrency as a way to bypass sanctions and urged Israel to protect trade ties with major partners.

Blockchain transactions can be traced, while stablecoin issuers and cryptocurrency exchanges may restrict transfers linked to sanctioned entities.

More than 100 economists and political opponents have criticised the proposal, warning it could weaken investment and economic confidence.

Israel’s blockchain plan remains exploratory, with its feasibility and effectiveness against potential financial sanctions still uncertain.