A congressional commission in Argentina has released a report alleging that President Javier Milei may have committed fraud by promoting a suspected cryptocurrency scam earlier this year. The report, published by the Chamber of Deputies, states that the facts analyzed are “compatible with an alleged fraud” and attributes “political responsibility” to Milei and his sister, Karina Milei.
The controversy surrounds the $LIBRA meme coin, which investors lost hundreds of millions of dollars on after Milei endorsed it on social media in February. Industry experts have described the operation as a “rug pull,” a type of scam where developers attract investors and then quickly cash out. When the value of $LIBRA plummeted, Milei claimed he was unaware of the project’s details.
The legislative commission’s report has been submitted to the court investigation, which is currently handling dozens of legal complaints filed against Milei and those involved in $LIBRA. However, it is unclear whether Congress will take further action on the case, particularly as new legislators who support Milei are set to take office in December.
The commission was unable to interview Milei or his sister as part of its inquiry, as they failed to appear for questioning when summoned. The report’s findings have significant implications for Milei’s presidency and the country’s cryptocurrency regulations.
The $LIBRA scandal has sparked widespread criticism and raised concerns about the lack of oversight in the cryptocurrency market. As the investigation continues, it remains to be seen whether Milei will face any consequences for his alleged role in promoting the scam. The case highlights the need for greater transparency and accountability in the cryptocurrency industry, particularly when it involves high-profile figures like heads of state.
The Argentine government has faced pressure to regulate the cryptocurrency market, and this case may prompt further action. The international community is also watching the developments closely, as the use of cryptocurrencies continues to grow globally. With the new Congress set to take office soon, it is likely that the $LIBRA case will remain a topic of discussion and debate in the coming months.
