Investigation Finds President Milei Did Not Break Ethics Laws by Promoting Libra
The Anti-Corruption Office (AO) found that President Javier Milei did not violate any ethics laws with his involvement in the promotion of Libra, a meme coin launched in February.
One of the first investigations into Argentina’s President Javier Milei’s involvement in the Libra incident has been concluded. The probe, ordered by Milei’s administration a week after the launch and the subsequent price debacle of the token happened, found that the Argentine leader did not break the “Ethics in the Exercise of the Public Office” law after promoting the launch of Libra using his social media account.
Explaining the reasoning behind this decision, the Anti-Corruption Office states that, given Milei used his personal account to share info about Libra’s launch, it considers Milei acted as a private citizen without leveraging his position as Argentine President.
In this regard, the document assessed that personal accounts on social media “cannot be considered channels for disseminating information or official decisions of the State simply because they are used by public servants.”
The probe also absolved Sergio Morales, former advisor to the board of directors of the National Securities Commission, of any wrongdoing regarding his involvement in any crypto-related dealings.
In addition, the office found no links between President Milei and the parties behind Libra’s launch, including Kelsier Ventures, Hayden Davis, Mauricio Novelli, and Manuel Terrones Godoy. This means Milei did not benefit from this promotional act.
The report echoes what the Milei administration has argued since day one, with Milei stating that he had done no wrong with his actions. ‘They knew very well the risk they were taking. If you go to the casino and lose money, it’s your problem,’ he declared in February.
Regardless, estimations put the number of those affected by the Libra meme coin debacle in the tens of thousands. Other investigations probing different infringements continue their course in Argentina and the U.S.
Read more: The Libra Incident: Examining Argentine President Javier Milei’s Confusing Token Endorsement and Its Destructive Aftermath
Read more: Javier Milei Denies Responsibility in Libra Debacle: ‘If You Go to the Casino and Lose Money, That’s Your Problem’