Argentine Congress Approves Probe into Officials Over Libra Scandal

The Chamber or Representatives of Argentina voted on Tuesday to approve three draft solutions that would establish a special committee to investigate the Crypto scaling of Libra, which has plagued the administration of President Javier Milei since February.

“The time has come for the congress to check whether there is damage to Argentina: we are dedicated to the truth,” said representative Pablo Juliano the Chamber during Tuesday debate.

La Libertad Avanza party representative Gabriel Bornoroni defended the president during the debate, suggesting that the opposition “creates a show” because “they hindered by the fact that we had a tax surplus in 2024, and this year too.”

Votes for the establishment of a committee of inquiry saw 128 before, 93 against and 7 abstentions.

The research body will call for important government officials, including Minister of Economy Luis Caputo and Minister of Justice Mariano Cúneo Libarona. The probe will also invite staff chef Guillermo Francos and Roberto Silva, which leads the National Securities Commission of the country.

The committee would also request information from the national government when going through the investigation.

The approval of the probe congress comes almost two months after Milei promoted the Solana-based Meme-Munt on his official X account.

Private project, public probe

The controversial LIBRA token, which milei praised As a “private project” to stimulate Argentinian economic growth through start-up financing, the value saw its value rise to a market capitalization of $ 4.5 billion before he crashed nearly 90% at 14-15 February.

Milei removed his promotion post shortly after the crash and claimed that he ‘did not know the details of the project’.

Two days later, Fraud -Appeals were submitted in an Argentinian criminal court. The collapse left around 75,000 wallet holders with losses of more than $ 250 million.

The investigation of the Argentinian congress is parallel to a running judicial probe Investigating the possible links between the developers of Milei and Libra.

In March an Argentinian lawyer called for the arrest Van Chessier Ventures CEO Hayden Davis, who reportedly threw the project to Milei during a January meeting.

Earlier this month, a law firm in New York started a phone call For investors to support a potential lawsuit.

Libra marks Milei’s Second Crypto -controverse After investors sued him in 2022 for promoting Coinx, a crypto investment platform that promised considerably return but did not deliver.

Published by Sebastian Sinclair