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Netanyahu Considering Crypto Plan to Dodge Banking Sanctions on Israel

Israeli Prime Minister Benjamin Netanyahu told Channel 10 that he has asked for a plan to use cryptocurrency and blockchain networks to help Israel get around possible banking sanctions, four days before the national election. He did not say who is drafting the plan, which currency or network it would use, or when it would be ready. He said U.S. defense aid will end, “only a question of time,” and that Israel must “prepare for a rainy day” beyond Trump; the current $3.8 billion-a-year deal expires in September 2028. The article notes that Russia’s ruble stablecoin A7A5 moved about $102 billion in its first year, before sanctions and a hack of its main exchange cut its daily volume by 96% from its peak. It also notes that blockchains are public and traceable, and that on July 1 Defense Minister Israel Katz signed sanctions orders on 37 crypto wallets.

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