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Israel's Central Bank Rejects Netanyahu's Crypto Plan
The Israel's Central Bank has rejected Prime Minister Benjamin Netanyahu's suggestion that cryptocurrency could help the country avoid potential international sanctions. The Bank of Israel stated that cryptocurrencies 'cannot serve as a means to circumvent sanctions imposed on Israel.' Over 100 economists, including former Bank of Israel governor Jacob Frenkel, have warned of the negative economic impact of such a plan, which they believe would lead to higher unemployment and a decline in foreign investment.