Argentina's Anti-Corruption Office (OA) has ruled that President Javier Milei did not violate public morality regulations when promoting the Libra ($LIBRA) cryptocurrency. The investigation concluded that Milei's promotional posts from personal accounts did not constitute an official government action or endorsement. In February, Milei promoted the Libra cryptocurrency on his personal X account, saying it would support small businesses and startups in Argentina. However, after the token plummeted 90% from its $2 billion market cap high, Milei deleted the post. The incident was dubbed "CryptoGate" by local media. While the administrative investigation has been concluded, the relevant federal criminal court investigation is still ongoing, and class action lawsuits from Argentina, the United States, and the United Kingdom are pending. In addition, Circle has recently frozen $57.6 million in USDC funds in two wallets of Libra founder Hayden Davis.
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Argentine President Milei promotes Libra encryption coin and is acquitted by the anti-corruption office; criminal investigation is still ongoing.
Argentina's Anti-Corruption Office (OA) has ruled that President Javier Milei did not violate public morality regulations when promoting the Libra ($LIBRA) cryptocurrency. The investigation concluded that Milei's promotional posts from personal accounts did not constitute an official government action or endorsement. In February, Milei promoted the Libra cryptocurrency on his personal X account, saying it would support small businesses and startups in Argentina. However, after the token plummeted 90% from its $2 billion market cap high, Milei deleted the post. The incident was dubbed "CryptoGate" by local media. While the administrative investigation has been concluded, the relevant federal criminal court investigation is still ongoing, and class action lawsuits from Argentina, the United States, and the United Kingdom are pending. In addition, Circle has recently frozen $57.6 million in USDC funds in two wallets of Libra founder Hayden Davis.