The Argentine Anti-Corruption Office recently ruled that President Milei did not violate his presidential duties while promoting the Libra memecoin.
In a resolution released on June 5, the Anti-Corruption Office stated that Milei acted in a personal capacity when endorsing the Libra (LIBRA) token on the X platform on February 14, and therefore did not violate Argentina's federal ethical regulations for public officials.
This ruling is significant, as reports indicate that Milei's endorsement led to a total loss of $251 million for investors, prompting calls for impeachment from opposition members.
Shortly after Milei's post on the X platform, the market capitalization of LIBRA briefly soared to $4 billion, only to plummet by about 94% a few hours later, showcasing several characteristics of a typical cryptocurrency "pump and dump" scheme.
The Anti-Corruption Office noted that no public resources were used in this incident, and that Milei has been sharing personal opinions on the X platform since 2015, which is about eight years before he took office as president.
"Although the account sometimes involves public policies or decisions of his government, it is done in an unofficial manner, essentially serving as a platform for political and personal expression," the Anti-Corruption Office stated in a Spanish translation document.
"These account characteristics of individuals on social network X are no different from those of any ordinary citizen expressing political ideas publicly," the department added, while noting that Milei was exercising the civil and political rights granted to him by the Argentine Constitution.
Milei has also strongly denied any wrongdoing, insisting that he was not promoting the LIBRA memecoin but merely "spreading" information about it.
Despite the ruling from the Anti-Corruption Office, the federal criminal court is still investigating Milei's involvement in the LIBRA token scandal.
On May 19, Milei signed a decree disbanding the special task force established to investigate the Libra scandal.
No actions have been taken against Milei or any other Argentine officials allegedly linked to the scandal.
However, some critics argue that a formal investigation has not been adequately pursued from the beginning.
"This has always been a performance; they never dared to truly investigate anything, and they protect each other because they are completely entangled in it," said Argentine Congressman and economist Itai Hagman in a post on X on May 20.
Poll platform Zuban Córdoba's data from March indicated that the Libra scandal negatively impacted Milei's image and support for national governance.
When asked whether Milei still retained their trust after the incident, the latter metric dropped from 47.3% in November to 41.6% in March among 1,600 respondents.
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Original article: “Anti-Corruption Agency Clears Javier Milei of Suspicion in LIBRA Cryptocurrency Scandal”
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