President Milei Denies Allegations of Cryptocurrency Fraud in Argentina

President Javier Milei of Argentina denied allegations of promoting the collapsing cryptocurrency $Libra, asserting he acted in good faith. He compared investors’ losses to gambling risks and stated that he only shared information on the coin. The incident has sparked political backlash and raised questions about potential fraud charges against him, with a federal judge set to oversee the investigation.

Argentine President Javier Milei has rejected accusations regarding his engagement with the newly launched cryptocurrency, $Libra, which suffered a rapid decline in value shortly after he referenced it on social media. Following his post, numerous investors incurred significant financial losses as the cryptocurrency’s value plummeted. A judicial review is underway to ascertain whether these allegations warrant fraud charges against President Milei.

In summary, President Milei maintains that he acted transparently and in good faith regarding the $Libra incident. His administration emphasizes that he was not involved in the cryptocurrency’s development, and he is prepared to face any legal outcomes resulting from the ongoing investigation. This situation, however, has become a source of political contention, potentially obstructing Milei’s broader reform initiatives.

Original Source: www.bbc.com