The Chamber of Deputies in Argentina approved three draft resolutions on Tuesday that would create a special committee to look into the LIBRA bitcoin scandal, which has plagued President Javier Milei’s leadership since February.
During Tuesday’s conversation, Representative Pablo Juliano told the room,” The time has come for Congress to accounting whether there is any damage to Argentina: we are committed to the truth.“
During the conversation, Gabriel Bornoroni, a representative for La Libertad Avanza, defended the president, saying the opposition is” creating a present” because” they’re bothered by the fact that we had a governmental deficit throughout 2024 and this year as well.”
Vote for the establishment of an investigative payment included 128 favorable votes, 93 opposed, and 7 abstentions.
Important government figures may be summoned by the analytical body, including Justice Minister Mariano Cneo Libarona and Economy Minister Luis Caputo. Additionally, Roberto Silva, the country’s National Securities Commission head, and Chief of Staff Guillermo Francos may be invited to participate in the investigation.
As it progresses through the analysis, the commission had also obtain information from the federal government.
The investigation was approved by the US Congress almost two months after Milei promoted the Solana-based image gold on his official X accounts.
Personal project, open investigation
The controversial LIBRA token, which Milei hailed as a “private project” to encourage Argentine economic growth through startup funding, saw a$ 4.5 billion market cap increase before falling nearly 90 % in the hours of February 14-15.
Soon after the accident, Milei deleted his special blog and claimed he “did not understand the details of the project.”
In an Brazilian criminal court two days later, scam charges were filed. Costs exceeding$ 250 million were suffered by approximately 75, 000 budget holders as a result of the decline.
The Argentine Congress’s inspection is similar to an ongoing criminal investigation looking into possible connections between Milei and LIBRA’s designers.
An Brazilian lawyer demanded the imprisonment of Kelsier Ventures CEO Hayden Davis in March after he allegedly pitched the initiative to Milei at a meeting in January.
A New York-based law firm earlier this month launched a call for traders to support a possible complaint.
In 2022, Milei was sued by investors for promoting CoinX, a blockchain investment program that promised high returns but failed to deliver. LIBRA is Milei’s next crypto controversy.
edited by Sebastian Sinclair
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