Netanyahu's crypto remarks on sanctions draw fire from Bank of Israel and opposition

Summary

Prime Minister Benjamin Netanyahu said Israel is mulling over cryptocurrency as a way to shield its economy from possible international sanctions, as he faces re-election this week. Opposition figures said the remark would turn Israel into an economic pariah, and Eisenkot accused him of dismantling the Israeli economy. The Bank of Israel said digital currency cannot be used for such purposes and stressed the need to preserve economic ties, and the Financial Times reported that the central bank rejected the plan. More than 100 economists warned that international sanctions could hurt Israel's employment, foreign investment, living standards and economic standing. Al Jazeera reported that there are few buyers for the cryptocurrency idea.

Timeline

1. The Straits Times

   24 Oct 2026, 15:02 UTCSource ↗

   Reports that Netanyahu said Israel is mulling over cryptocurrency ahead of possible sanctions, and that opposition figures slammed the words as turning Israel into an economic pariah.

2. The Times of Israel

   24 Oct 2026, 19:00 UTCSource ↗

   Reports that the Bank of Israel said digital currency cannot be used for such purposes and stressed the need to preserve economic ties, while Eisenkot tore into the prime minister for 'dismantling Israeli economy'.

3. Financial Times

   24 Oct 2026, 19:19 UTCSource ↗

   Reports that the Israeli central bank rejected Netanyahu's plan to use crypto to evade sanctions, with critics saying the proposal would turn the country into an economic pariah.

4. The Straits Times

   25 Oct 2026, 11:45 UTCSource ↗

   Reports that Netanyahu, who faces re-election this week, is drawing criticism from economists and political rivals for suggesting Israel could use cryptocurrency to shield its economy from potential international sanctions.

5. Hindustan Times

   25 Oct 2026, 12:13 UTCSource ↗

   Reports that more than 100 economists warn international sanctions could hurt Israel's employment, foreign investment, living standards and economic standing, in response to Netanyahu's crypto proposal.

6. Al Jazeera

   25 Oct 2026, 14:46 UTCSource ↗

   Reports that Netanyahu is mulling cryptocurrency as an answer to economic sanctions on Israel, but that there are few buyers.