Netanyahu orders plan to use blockchain to bypass potential sanctions
Israeli Prime Minister Benjamin Netanyahu has ordered the development of a plan to use blockchain technology if economic sanctions are imposed on the country. He said the technology could become a tool for circumventing financial restrictions, including measures targeting banks.
Netanyahu made the remarks in an interview with Israeli television channel Channel 10. He warned that the economy must be prepared in advance for potential restrictions on international financial transactions.
However, the prime minister did not specify which cryptocurrencies or blockchain networks might be used, who would be responsible for developing the plan or when it would be presented.
Blockchain considered as a tool to bypass sanctions
During the interview, Netanyahu raised the possibility of restrictions affecting Israel's banking system and international payments.
"We must understand that there could be sanctions, including banking sanctions. We need to prepare an economy capable of circumventing them," he said.
Netanyahu also mentioned currencies that could enable transactions outside traditional financial restrictions. When journalist Roy Katz directly asked whether blockchain could be used, the prime minister confirmed that it was under consideration.
"This is certainly one of the options. I have already instructed that a corresponding plan be prepared," Netanyahu said.
It remains unclear whether the initiative would involve existing crypto assets, stablecoins or the creation of separate payment infrastructure. The government has not presented any specific mechanisms.
Israel prepares for reduced U.S. assistance
Netanyahu also warned that U.S. military support would not continue indefinitely. He argued that Israel needs to reduce its dependence on foreign partners and expand domestic production of weapons and ammunition.
To achieve this, the government has allocated an additional 400 billion shekels, or approximately $129 billion, for defense spending over the coming years.
The prime minister noted that the political environment could become less favorable for Israel after Donald Trump leaves the U.S. presidency.
The use of cryptocurrencies under sanctions remains a focus of U.S. authorities. The U.S. Treasury Department previously announced preparations to seize up to $1 billion in digital assets linked to Iran.
According to Treasury Secretary Scott Bessent, the operation is intended to form part of increased financial pressure on Tehran. It follows months of sanctions measures and the freezing of cryptocurrency wallets linked to Iranian activities, although the total value of assets already confiscated has not been disclosed.
Earlier, we reported that the U.S. Treasury Department expanded sanctions against Iran by taking action against an Iraqi bank. The decision was part of Washington's broader policy of applying financial pressure on Tehran.
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