Argentina’s Anti-Corruption Office has cleared President Javier Milei of any wrongdoing in the LIBRA cryptocurrency scandal, stating that Milei acted in a personal capacity when he promoted the LIBRA token in a February 14 post on X (formerly Twitter).
The office concluded that Milei did not violate federal ethics laws for public officials because no public resources were used and the post was an expression of his private political views, which he has shared on social media since 2015, before becoming president.
Despite this administrative clearance, a federal criminal court in Argentina continues to investigate Milei’s involvement in the LIBRA token case. The scandal involved the LIBRA token reaching a $4 billion market cap shortly after Milei’s endorsement but then crashing about 94% within hours, leading to significant investor losses estimated at $251 million and calls for Milei’s impeachment by opposition parties.
Additionally, Milei dissolved the special investigative unit he had established to probe the LIBRA scandal, stating the unit had completed its assigned task. However, concerns remain about transparency and ongoing legal inquiries, including investigations in the United States regarding the legal status and regulatory compliance of the LIBRA project.
While the corruption watchdog has cleared Milei of administrative fault, judicial investigations are still ongoing, and the controversy continues to affect Milei’s political standing and Argentina’s crypto regulatory environment.
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