Finance Minister Avigdor Liberman voiced his concerns about the "rise of cryptocurrency" at The Jerusalem Post's first international conference in London on Wednesday.
"One of the most unsettling trends in my view is the rise in popularity in virtual and cryptocurrency across the globe," Liberman opened in his statement in English.
To support his argument, Liberman voices the possibility of money laundering and financing terrorism. He describes the virtual currency as a "threat to our modern world order" and stresses that if the Israeli government does not take action and not place any regulations on virtual currencies, "we could quickly lose control and descend into economic chaos and anarchy."
As a solution, the minister says that we all collectively should "rethink our traditional approach to the global economy."
Liberman also brought attention in his speech to other threats such as climate change, supply chain disruptions, the ongoing COVID-19 pandemic, ballistic missiles in North Korea and the Iran nuclear threat. He stresses that the best way to tackle these issues is with global cooperation.
The Jerusalem Post Group's international conference is set to be hosted at the Tottenham Hotspur Stadium, London which will host international politicians and business executives from Israel and abroad.