Amid escalating global isolation and mounting pressure over its controversial policies, Israeli Prime Minister Benjamin Netanyahu has claimed that the country must prepare to adopt blockchain-based cryptocurrencies to circumvent potential economic sanctions. According to his statements, digital assets could supposedly serve as an alternative financial mechanism to bypass traditional banking restrictions.

The proposal immediately faced rigorous backlash from domestic financial institutions and political opponents. The Bank of Israel formally rejected the plan, asserting that cryptocurrencies cannot realistically function as a route to bypass sanctions. Meanwhile, opposition leaders and numerous former officials denounced the concept as a severe threat to national security and an irreversible blow to the nation's economy.

Netanyahu's crypto pitch coincides with growing international backlash regarding settlement expansions and military campaigns in Palestinian territories. The Israeli leader also cautioned that the regime must anticipate a decline in unconditional financial backing from Washington in the foreseeable future, prompting discussions on alternative funding methods despite widespread skepticism.

Source: www.aljazeera.com