Benjamin Netanyahu, Israel’s prime minister, has defended his crypto plan as an alternative to evade future sanctions against the country.

According to a Financial Times report, the central bank, the Bank of Israel, opposed the plan, noting that – 

Cryptocurrency cannot serve as a means to circumvent sanctions imposed on Israel. The right course of action for the Israeli economy is to preserve economic relations with our primary trading partners and to focus on preventing sanctions.

The central bank warned of the negative impact of sanctions, a stance echoed by opposition politicians who stressed that Netanyahu’s crypto plan could turn Israel into an economic pariah. 

Despite the opposition, Netanyahu did not retract his…