LIBRA Scandal: Argentina’s Chief Prosecutor Investigates $100…

Argentina’s Chief Prosecutor has frozen $100 million in assets tied to $LIBRA tokens following President Milei’s controversial endorsement. The situation, labeled Cryptogate, raises concerns about fraud and impacts on the national stock market. Legal investigations involve significant allegations against both Milei and the token’s creator.

The LIBRA scandal has escalated as Argentina’s Chief Prosecutor, Eduardo Taiano, intervenes to freeze approximately $100 million in digital assets related to the sale of $LIBRA tokens. This controversy emerged following Argentine President Javier Milei’s public endorsement of the cryptocurrency, which saw its value surge dramatically and then crash, resulting in substantial investor losses of around $250 million.

Referred to as Cryptogate, this situation has been characterized as the “first big scandal” of President Milei’s administration by The Economist. Despite facing allegations of fraud due to his promotional activities, Milei has maintained a defiant stance, even as lawyers in Argentina express significant concerns regarding the legitimacy of the token and its ramifications for the national stock market.

As part of the investigation, Chief Prosecutor Taiano has requested comprehensive transaction records linked to the $LIBRA project and the retrieval of deleted social media posts, which are essential for gathering evidence against Milei and his associates. The deletion of these posts raises further questions about the transparency of the operations surrounding the cryptocurrency.

Furthermore, the creator of the LIBRA token, Hayden Davies, has come under intense scrutiny for potentially illicit dealings. Investigations revealed messages indicating payments made to President Milei’s sister for political favors, which have incited discussions about impeachment, bribery, and potential political manipulation in the cryptocurrency space.

The national regulatory body, the National Securities Commission (CNV), has opted not to intervene directly in the LIBRA situation at this time; however, overall oversight of cryptocurrency activities is intensifying, reflecting growing concerns about the risks associated with digital asset transactions in Argentina.

In summary, the LIBRA scandal highlights significant issues around cryptocurrency promotion and regulation in Argentina. With Chief Prosecutor Eduardo Taiano’s actions to freeze assets and secure evidence, the case could have far-reaching implications for President Milei and the broader crypto market. The involvement of Hayden Davies and the leaked messages raise serious allegations of political misconduct and further complicate the situation as scrutiny of digital assets sharpens.

Original Source: www.tronweekly.com