According to CoinMeta, Israel’s central bank rejected a plan proposed by Prime Minister Benjamin Netanyahu to use cryptocurrencies to circumvent potential international financial sanctions. The bank warned that cryptocurrencies would not help Israel avoid sanctions and urged the government to protect its relations with major trading partners. This warning comes as the UK, France, Canada, and other Western allies plan to impose sanctions on Israeli settlements in the West Bank. Opposition leaders warn that such a plan could isolate Israel financially, similar to the situations of Iran, Russia, and Venezuela.