Argentina’s Anti-Corruption Office has recently cleared President Javier Milei of any ethics violations in relation to his promotion of the Solana-based LIBRA memecoin back in February. The office released a resolution declaring that Milei’s social media post endorsing the project was deemed a personal statement rather than an official governmental announcement, therefore not constituting any breach of ethics laws.
The investigation was initiated following Milei’s X post on February 14, which led to a surge and subsequent crash in the price of the LIBRA token. The post, which was deleted within hours, sparked controversy as it was perceived as an endorsement by the Argentine President, causing a stir in the market and resulting in financial losses for investors.
Despite the fallout from the scandal, the Anti-Corruption Office’s findings determined that Milei’s post was made from his personal X account, which precedes his tenure as a congressman and does not receive any official governmental contributions or resources. As such, the office concluded that the post was an expression of his personal opinion, protected by his civil and political rights under the constitution.
The resolution emphasized that the post did not pertain to any government policies, programs, decisions, or announcements with legal or budgetary implications. Additionally, it highlighted that the message was not disseminated through any official governmental channels, further solidifying the conclusion that it was a personal activity by Milei rather than an official government action.
The LIBRA scandal had caused a stir in the Argentine market, leading to a federal court investigation that resulted in the freezing of Milei and his sister’s assets. However, with the Anti-Corruption Office’s ruling, Milei has been cleared of any wrongdoing in connection to the promotion of the memecoin.
Moving forward, the aftermath of the LIBRA scandal has underscored the importance of transparency and accountability in the cryptocurrency space, particularly when it comes to public figures and their endorsements of digital assets. As the investigation continues in the federal court, the resolution from the Anti-Corruption Office serves as a significant development in clarifying Milei’s involvement in the controversy surrounding the LIBRA token.