Bank of Israel Rejects Netanyahu's Proposal to Use Crypto to Avoid Potential International Financial Sanctions According to the Financial Times, the Bank of Israel has publicly rejected Prime Minister Benjamin Netanyahu's proposal to use cryptocurrencies to circumvent possible international financial sanctions. On October 24, the central bank stated that crypto cannot be used as a means of circumventing sanctions, and called on the government to maintain economic ties with major trading partners and prevent further restrictions. In an Oct. 23 television interview, Netanyahu warned that Israel could face international banking sanctions and said he had requested plans to explore alternative financial systems, including blockchain and cryptocurrencies. - Link.