The president of Argentina, Javier Milei, has instructed the Anti -Corruption Office (OA) to investigate whether any government member, including himself, incurred inappropriate behaviorafter the president promoted a cryptocurrency and decided to retract before the suspicions that it could be a scam.
“Under the facts, President Javier Milei has decided to give him intervention immediately to the OA To determine whether there was an improper conduct by any member of the National Government, including the President himself, “said the Argentine Presidency in a statement.
In this sense, Casa Rosada has expressed that Milei “is committed to the due clarification of this fact until the last consequences. “
Last Friday, Milei promoted a token (card or digital currency) of cryptocurrencies on social network, arguing that it would help “Encourage the growth of the Argentine economy”although later he eliminated him since the aforementioned Token works with Blockchain, a decentralized technology that allows transactions without the need for intermediaries.
The Token, represented through the acronym $ Libra, It was quickly indicated by economists As a possible scam since 80% of tokens are concentrated in just five wallets, the Argentine newspaper explained The nation.
In addition, the Presidency has reported a creation a Research Task Unit (UTI) under the presidential orbit to investigate the launch of the $ LIBRA cryptocurrency and the companies involved.
On October 19, the statement reported, Milei met with the company’s representatives behind the project, Kip Protocol, in Argentina, who presented his project Long live freedomdestined to finance private ventures through Blockchain technology.
On January 30, the president held a meeting at Casa Rosada with the American Hayden Mark Davis, Who, according to KIP Protocol representatives, was going to be in charge of providing technological infrastructure for the project. Davis was presented as one of the KIP Protocol partners.
The American businessman explained that his “responsibility was to ensure that the Token had enough volume, liquidity and a solid treasury to support its price and execute the vision of the project.” “However, as an advisor, There were many factors outside my control“He added.
Davis has confirmed being an advisor to the president, he has blamed the government of The abrupt fall of cryptocto withdraw his support for the project and has assured that he will inject liquidity again to the Token. In addition, your company has issued a statement in the same direction, as the newspaper has collected The nation.
According to the official website of Viva La Libertad Project, the Token $ Libra promised to finance local projects Through an online registration form. However, it did not specify selection criteria or technical details about the distribution of funds, which aroused doubts.
$ Libra is actually a meme cointerm that refers to a cryptocurrency created as a joke for entertainment or internet trends, and is characterized by lack of support in the real economy.
Political criticism and from the crypto industry
At the political level, the former president of Argentina, Cristina Fernández, was very critical with the president: “From your official X account you promoted a private cryptocurrency, created to know who. You inflasted its value taking advantage of your presidential investiture, “he denounced.
“And, to top it off, then you say that You weren’t internalized! ¿Wasn’t it “the best president in history”? Wasn’t it that you are “the genius of the economy”? From self -proclaimed “global leader” to Crypto scammer, “he reprimanded.
Maximiliano Ferraro, of the Civic Coalition, also warned that Milei could have violated the Public Ethics Law and the Law of Financial Entities, “particularly in relation to advertising for the collection of resources (art. 19). In addition, what happened could configure crimes of money laundering, fraud and/or scam, which the FIU cannot ignore “
The general secretary of the Socialist Party of Argentina (PSA), Esteban Paulón, was the first to announce a request for political trial and described the head of state as “Javo Ponzi Milei” in reference to the Ponzi scheme or pyramid scam in reference to the Italian Financial Carlo Ponzi.
Criticisms from the cryptocurrency industry before the promotion of Milei have also been overwhelming, warning about the centralization and risks of this cryptoactive.
For example, a popular company that visualizes capital relations and flows between different cryptocurrency directions, Bubblemaps, warned about it: “Another presidential meme. 82 percent of $ Libra remains in a cluster. It is not shared tokenomic – economic structure behind a token -: merchant with caution, “they shared on their social network X.
One of the most critical has been the liberal economist Carlos Maslatónwho publicly accused Milei of being “directly involved in a cryptographic fraud” and described the episode as “causal political trial.”
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