The Argentine Congress has approved the formation of a commission to investigate the involvement of government officials in the launch and downfall of the controversial Libra token. This investigation, backed by 128 representatives, will focus on President Javier Milei and his inner circle, including his sister Karina Milei, over their alleged roles in the token's dramatic collapse. Libra was initially touted to support Argentina’s SMEs but saw its value plummet hours after release, leaving many investors in turmoil.
The commission, set to begin its work on April 23, will have three months to examine testimonies and assign responsibility for the scandal. This inquiry comes alongside legal actions, including a class action lawsuit filed in New York, accusing those behind Libra of misleading investors. While Milei denies involvement, comparing the incident to casino losses, the investigation continues to unfold both locally and internationally.
Conclusion
The upcoming investigation into Libra's failed launch could have significant political and legal implications for the Argentine government. As the process unfolds, the crypto community will be closely monitoring any new developments, especially in terms of accountability and investor protection.
Takeaways:
The Argentine Congress will investigate government officials’ roles in the Libra token’s failure.
President Milei and others may face legal repercussions for misleading investors.
International lawsuits and court actions are also underway regarding the Libra token’s collapse.
Source: Bitcoin.com
