President Javier Milei has formally instructed the Anti-Corruption Office (OA) to initiate an investigation to detect potential irregularities or acts of corruption related to the launch of the '$LIBRA' cryptocurrency.
Argentina's head of state, via a decree co-signed by Security Ministry, also invited criminal complaints to be lodged "regarding the crypto asset known as $LIBRA" with the Judiciary.
Milei, who has faced fierce criticism for his promotion of the memecoin token, also ordered the creation of special investigative unit composed of digital specialists.
The Anti-Corruption Office falls under the Justice Ministry, which is led by Mariano Cúneo Libarona, the lawyer Milei suggested in a televised interview this week would represent him in the case against legal proceedings.
The special unit tasked with investigating the scandal will collaborate with "the Judiciary and/or the Public Prosecutor's Office," Milei stated in the decree, ordering it to request data and documentation from "across the national public sector," provincial and regional governments, "foreign states and/or international organisations."
Milei's top spokesperson Manuel Adorni announced last Saturday that a special investigation would be set up to probe the scandal, which saw a rapid surge in the cryptocurrency's value and abrupt collapse, and any alleged wrongdoing. Thursday's decree formalises the move.
According to President's Office, all information gathered in the investigation will be handed over to the Judiciary to determine whether "any companies or individuals linked to the KIP Protocol project committed a crime."
Regarding Milei's connection to the project, Argentina's government said the President "is committed to fully clarifying this matter to its ultimate consequences."
The government has already admitted to holding talks about the project, including meetings with KIP Protocol representatives Mauricio Novelli and Julian Peh, as well as Kalsier Ventures CEO Hayden Mark Davis.
Shortly after $LIBRA token was launched, Milei deleted a tweet in which he promoted the memecoin, initially explaining that its purpose was to provide funding for small and medium-sized enterprises in Argentina. He later posted a message admitting he was "not fully informed" about the details of the case.
In an interview with journalist Jonatan Viale for TN, Milei compared the $LIBRA operation to gambling: "If you go to a casino and lose money, what is the complaint if you knew the risks?"
He continued with similar analogies: "They are volatility traders. It's like someone playing Russian roulette and getting the bullet."
"I didn't promote it; I merely shared it. I'm a technology enthusiast. I want Argentina to become a technological hub. I thought it was something that could improve conditions for tech entrepreneurs," the President insisted.
A commission to investigate
In response to the scandal, Unión Cívica Radical Senator Pablo Blanco has announced he will push for a congressional commission to investigate the President, his statements, actions and involvement in the case.
Blanco will present his proposal in the lower house on Thursday, though its success is uncertain. "Besides needing a two-thirds majority to bring it to debate [on the floor], its approval must also meet the same threshold," Blanco explained in an interview with IP Noticias on Wednesday.
Some of Blanco's UCR colleagues have already indicated they will support the initiative, though the final result will depend on negotiations between parties.
A sector of the right-wing PRO party have expressed support for establishing the commission, stressing that a thorough investigation is essential to understand the events in detail and dispel any doubts.
Another proposal may also be filed, seeking to summon Cabinet officials for questioning about the scandal.
– TIMES/NA/PERFIL
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