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On October 24, 2026, the Bank of Israel issued a statement in which it disagreed with the idea that cryptocurrencies and blockchain could be used to circumvent possible international banking sanctions. The regulator spoke briefly and clearly: digital assets are not suitable as a means of circumventing restrictions. In addition, the Bank of Israel stressed that it is more important for the national economy to maintain relations with key trading partners and to prevent the sanctions themselves along with their negative consequences. Separately, the regulator noted that the issue lies on a political plane, therefore, the political leadership is responsible for its promotion.

The reason for the public reaction came a day earlier. On October 23, 2026, Benjamin Netanyahu gave an interview to the economic television channel Channel 10. In it, the Prime Minister said that the country should consider the possibility of banking sanctions and prepare in advance an alternative economic system that would help circumvent the restrictions. He also noted that he is already dealing with this issue. When the journalist clarified whether he was referring to blockchain, Netanyahu replied that this was one of the options, and added that they had already asked him to prepare a plan for this. It follows that the blockchain was considered not as the only solution, but as one of the elements of a possible backup scheme.

Later that day, Netanyahu spoke about the Bank of Israel's position on Channel 14. According to him, he hears the comments and takes them into account, he is grateful to the regulator for the recommendations, but he will act as he sees fit. The prime minister also clarified the wording: cryptocurrency is only one of the tools, far from the only one, and its use is not necessary at all. It follows from this answer that the head of government does not abandon the idea of preparing spare mechanisms, but also does not require that cryptocurrency be an obligatory part of them.

The disagreement between the Government of Israel and the Bank of Israel is not limited to cryptocurrencies. The question is how the economy can prepare for a situation where banking restrictions may be imposed on the country. The Bank of Israel relies on diplomacy and maintaining relations with trading partners. The prime minister does not rule out that backup mechanisms can be developed in parallel. The public statement of the cryptocurrency regulator does not prohibit and does not change the current rules, but outlines the boundary: the Bank of Israel does not consider digital assets as an acceptable way to circumvent sanctions. Netanyahu's response, in turn, does not launch any specific cryptographic scheme, but only leaves room for further discussion.

There is a noticeable difference in priorities in this episode. The Bank of Israel proceeds from the fact that the sanctions risk should be reduced through foreign economic relations and the avoidance of restrictions. The prime minister believes that this is not enough and that alternative tools should be prepared in advance. Cryptocurrency remains one of the options in this dispute, and unconfirmed for use. So far, the parties have only exchanged public positions, but have not presented a joint decision.