Argentine Anti-Corruption Office to Investigate Milei and His Cabinet for Cryptocurrency Scam
Argentina’s president Javier Milei. Photo: EFE/ Matías Martín Campaya
February 16, 2025 Hour: 3:25 pm
The Anti-Corruption Office (OA) of Argentina will investigate President Javier Milei and members of his cabinet, at the request of the head of state himself, after he promoted a cryptocurrency on his social media that potentially has links to virtual scams.
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“President Javier Milei has decided to immediately involve the Anti-Corruption Office (OA) to determine whether any member of the National Government, including the President himself, engaged in improper conduct,” stated the President’s Office in a communiqué.
Milei decided to create an Investigation Task Unit to investigate ‘$LIBRA’ – the digital currency he advertised – along with all companies or individuals involved in its operation.
The Investigation Task Unit, which will be under the authority of the President, also will be composed of representatives from agencies related to crypto assets, financial activities, money laundering, and other related areas.
“All information gathered in the investigation will be submitted to the judiciary to determine if any of the companies or individuals connected with the KIP Protocol project committed a crime,” they added in the document.
According to the presidential office, representatives of the KIP Protocol company had a meeting with Milei on October 19, where they discussed the idea of developing a project called “Viva la Libertad” with the intention of financing private ventures in the country using blockchain technology.
On January 30, Argentine president Javier Milei met at the Casa Rosada with representatives of KIP Protocol and Hayden Mark Davis, who would provide the infrastructure for the development of the cryptocurrency ‘$LIBRA’.
Although Milei shared the project launch on his social media, it was clear that he did not participate in its development. After sharing the post, demand for the cryptocurrency quickly increased, leading investors to withdraw $87.4 million before the price plummeted. Subsequently, KIP Protocol and Davis exchanged blame over the situation, while Davis accused Milei’s team of shifting responsibility.
Autor: ACJ
Fuente: EFE
