Skip to content
- Argentina’s Anti-Corruption Office clears President Milei of wrongdoing in the Libra case.
- Milei acted as a private citizen when promoting the meme coin.
- No connection was found between Milei and Libra’s creators.
The Anti-Corruption Office in Argentina has concluded its review of President Javier Milei’s involvement in the promotion of the meme cryptocurrency, Libra. The investigation followed a wave of public criticism and investor losses after the coin’s chaotic market entry in February.
The report confirms that President Milei breached no ethical principles related to public office. This conclusion was reached following an exhaustive analysis of the manner in which the currency was launched and Milei’s role in disseminating the information.
Critics pointed out that Milei announced the launch from his personal social media account. The Anti-Corruption Office clarified that this did not go beyond the law. It declared that by operating on a private platform, Milei acted as an ordinary citizen rather than a public official.
This detail was critical in the determination. The Office indicated that social media accounts not formally linked to the government do not constitute channels for public policy or state communications. Consequently, his promotion was not considered an abuse of power.
No Evidence of Crypto Coordination
The report also looked at potential links between President Milei and the creators of the Libra coin. Investigators found no evidence of communication or coordination with the developers or their affiliated companies, including Kelsier Ventures and individual cryptocurrency entrepreneurs.
Investigators confirmed that Milei received no monetary benefits whatsoever, either prior to or post the launch of the token. This ultimately supported the claim that his role was limited to content creation, without any further involvement.
Sergio Morales, ex-Advisor of the Argentine National Securities Commission, also gets a thumbs-up. As with Milei, he is exonerated from any form of wrongdoing. The reports point out that there was no plan by public officials to promote or benefit from the meme coin.
Libra Token Fallout Persists After Miles’s Post
While the legal ruling shields Milei from any criminal repercussions, the controversy is far from over. Thousands reportedly lost money buying Libra through its wild initial trading days. Many appeared to think the token was officially endorsed because of Milei’s post, despite the message not coming from a government source.
This incident provoked a larger debate about the leaders’ responsibilities when dealing with highly volatile digital assets. Investigations into other aspects of the launch of Libra continue both in Argentina and abroad.
Although President Milei has now been cleared of any ethical wrongdoing, this case matters more than ever. It represents the increasing overlap of politics, personal influence, and the fast-moving world of cryptocurrency.
Related Reading: Bitcoin Gains Appeal as Investors Move Away from U.S. Markets
