According to CoinMeta, as reported by the Financial Times, the Bank of Israel has publicly opposed the idea proposed by Prime Minister Netanyahu to use cryptocurrencies to circumvent potential international financial sanctions. On October 24, the Bank of Israel stated that cryptocurrencies cannot be a means to evade sanctions against Israel, and that the government should focus on maintaining economic relations with major trading partners and preventing the negative impacts of these sanctions. Previously, on October 23, Netanyahu said in a television interview that in the face of possible international banking sanctions, Israel needs to prepare an alternative economic system and has already requested research on countermeasures including blockchain and cryptocurrencies.