The Bank of Israel rejected Netanyahu’s proposal to use cryptocurrency to circumvent potential international sanctions. The central bank argued that the focus should be on preventing sanctions from being imposed and avoiding their impact on the domestic economy, rather than seeking alternative ways to get around them. Netanyahu, meanwhile, said there were alternatives to cryptocurrency that could achieve the same goal.

The report addressed only the policy direction; it disclosed no implementation details or timeline and did not identify any specific cryptocurrency. The only firm conclusion is that the proposal has not won support at the central-bank level and remains a long way from implementation.