109 Israeli economists and business leaders warn Netanyahu against pushing a cryptocurrency sanctions-evasion plan

Odaily: Bitcoin News posted on X that 109 Israeli economists and business leaders have warned Netanyahu not to pursue a cryptocurrency sanctions-evasion plan. Signatories include former Bank of Israel governor Jacob Frenkel and 2025 Nobel laureate in economics Joel Mokyr. The signatories called cryptocurrency a "convoluted solution" adopted by criminal organizations that does nothing to solve the problem. On Friday, Netanyahu said Israel should prepare to build a "bypass economy" to cope with banks being sanctioned; when asked whether he meant cryptocurrency, he said "exactly." The Bank of Israel has already rejected the idea, and Israel's election will be held tomorrow; cryptocurrency sanctions evasion had previously been mainly associated with Russia and Iran, and this is the first time for a close US ally.