Netanyahu Considering Crypto Plan to Dodge Banking Sanctions on Israel

In brief

• Netanyahu said on Israeli television that he has asked for a plan to use blockchain to get around possible banking sanctions.
• He told Israelis U.S. defense aid will end and said Israel must "prepare for a rainy day" beyond Trump; the current $3.8 billion-a-year deal expires in September 2028.
• Elliptic says Russia’s ruble stablecoin A7A5 moved about $102 billion in its first year before sanctions and other pressure cut its daily volume by 96%.

Israeli Prime Minister Benjamin Netanyahu said he has asked for a plan to use cryptocurrency and blockchain networks to help Israel get around possible banking sanctions. He made the comments in an interview on Israel’s Channel 10, four days before the country votes in a national election.

Apparently, Netanyahu is somewhat confident that the United States will stop providing Israel with military funding. “It is only a question of time.” he said, telling Israelis to get used to the idea of not continuing to “receive tens of billions of dollars in American assistance” for the country’s defense budget.

“There could be sanctions, including banking sanctions,” he continued. “You have to prepare an alternative economy and think about currencies that can get around those restrictions. I am working on that as well.”