Top Economists Warn: Crypto Plan to Evade Sanctions Will Cause Irreversible Damage

Senior Israeli economists warn that Prime Minister Netanyahu's proposal to use digital currencies to circumvent potential sanctions could inflict severe damage on the economy.

Dozens of senior Israeli economists have warned of severe consequences following Prime Minister Benjamin Netanyahu's proposal to use cryptocurrencies to evade potential international sanctions, Globes and Reshet 13 reported.

The experts expressed grave concern and anxiety, warning that the imposition of sanctions and attempts to circumvent them would cause immense and irreversible damage to the Israeli economy. According to reports by CTech and Ynetnews, the economists sharply criticized the initiative, describing the use of crypto to bypass financial curbs as a tactic typical of criminal gangs and rogue regimes, warning it could isolate Israel from the global banking system.