The Bank of Israel responded to Prime Minister Benjamin Netanyahu's statement about Israel transitioning to a cryptocurrency-based economy, stating that it is "better to focus on preventing sanctions," as it is not possible to operate in the global economy using only cryptocurrencies. "Cryptocurrencies cannot serve as a route to bypass sanctions," the bank said. "The right thing for Israel's economy is to preserve economic relations with our main trading partners and to focus on preventing sanctions and their negative impact on the economy. This issue falls within the purview of the political echelon, and it is appropriate to take action to advance it."