In brief
Argentina's President Javier Milei is no longer under investigation for alleged crypto fraud after court dismissal. The case involved his sister and a cryptocurrency called Libra, whose price spiked following Milei’s promotion before plummeting. Despite Milei’s claim of acting in good faith, critics accused him of a “rug pull” that wiped out investor funds. The judge ruled lack of criminal deception and no clear legal grounds, ending the inquiry. The decision leaves the president’s popularity and the country’s crypto regulations in limbo.
Argentina drops investigation into President Milei over cryptocurrency fraud. A federal judge dropped the case involving the president and his sister after prosecutors requested the dismissal.
The investigation centred on Milei’s social‑media post about the newly launched crypto coin $Libra, which saw a sharp price rise after his promotion and then crashed, causing huge losses for many investors.
Milei denied involvement in developing $Libra and said he had acted “in good faith,” but critics called it a deceptive “rug pull.”
The judge noted that the alleged events “do not fall under a legal category” and that no “criminally relevant deception” was proven, leading to the case’s dismissal.
The controversy has fueled impeachment talks and sparked debate over the role of presidents in promoting digital assets. While the anti‑corruption office is set to review any potential misconduct, Milei insists that investors voluntarily accepted risks.
