Argentina’s Legislative Probe into the LIBRA Cryptocurrency Debacle
In a significant move, Argentina’s Chamber of Deputies has initiated a thorough investigation into the controversial collapse of the LIBRA cryptocurrency. The inquiry is gaining momentum as potential links to President Javier Milei are being scrutinized. A special committee has been tasked with gathering insights from government officials and securing comprehensive documentation related to the crypto token’s failure.
Political Tensions Rise Over Investigation Authority
With 128 votes in favor, 93 against, and seven abstentions, the decision to establish a special commission highlights the political friction surrounding this issue. Key figures in the executive branch, including Economy Minister Luis Caputo, Chief of Staff Guillermo Francos, Justice Minister Mariano Cúneo Libarona, and National Securities Commission President Roberto Silva, will be summoned for questioning. The resolution narrowly passed with 131 supporters against 96 dissenters.
Advertisement Banner
Additionally, a request for detailed information from the Executive Branch about the LIBRA token was approved, receiving 135 votes in favor, 84 against, and 7 abstentions. These actions come amid growing concerns about the adverse impact of the cryptocurrency’s collapse on Argentina’s financial landscape.
Parliamentary Opinions Clash
During the legislative session, a sharp divide emerged among members of parliament. Pablo Juliano of the Democracy Forever bloc stressed the necessity of legislative oversight in this matter. Contrastingly, Nicolás Mayoraz from President Milei’s La Libertad Avanza party cautioned against the commission’s potential overreach into judicial matters.
Other lawmakers advocated for a balanced approach. Oscar Agost Carreño from Encuentro Federal and Karina Banfi of the UCR highlighted the legislative duty to ensure political accountability. Banfi also pointed out ongoing investigations at both national and international levels, while Maximiliano Ferraro of the Civic Coalition emphasized the public’s right to transparency.
Gabriel Bornoroni, leader of the La Libertad Avanza bloc, downplayed the opposition’s actions as disruptive, citing economic achievements such as the 2024 fiscal surplus and a steady decline in inflation.
Legal Challenges Confront LIBRA’s Architect
The political discourse is paralleled by serious legal actions targeting the creator of the LIBRA token, Haydone Davis. On March 13, Argentine lawyer Gregorio Dalbon requested that Interpol issue a Red Notice for Davis, whose company, Kelsier Ventures, was behind the LIBRA token’s February launch. Argentine prosecutors have pinpointed Davis as the primary culprit in the token’s downfall, which inflicted significant financial damage.
The scandal’s ramifications have reached international frontiers, with Burwick Law, a prominent cryptocurrency law firm, filing a lawsuit against Kelsier Ventures and associated platforms, Meteora and KIP Protocol. The legal proceedings aim to recover lost profits and compensate impacted investors in the United States.
Our Editorial Standards
At Bitcoinist, our editorial process is designed to deliver meticulously researched, accurate, and impartial content. We adhere to stringent sourcing protocols, ensuring each page undergoes comprehensive review by our team of top-tier technology experts and seasoned editors. This rigorous process guarantees the integrity, relevance, and value of our content for our readers.
“`
