Netanyahu pushes a crypto plan as Israel faces possible banking sanctions

Israel is preparing for possible banking sanctions by exploring an alternative economy built partly around blockchain and cryptocurrency. Benjamin Netanyahu asked advisers for a plan and said alternative currencies were one response, but the proposal remains tentative.

The Bank of Israel rejected crypto as a way to bypass sanctions, creating a direct split between the prime minister’s plan and the country’s central bank. The Jewish People Policy Institute said 64 countries had taken or considered economic, financial, or diplomatic measures against Israel.