Dismissing the investigative unit examining the 'Cryptogate' scandal concludes the government's internal inquiry into the issue.
The Argentine government has disbanded the Investigative Task Force (UTI), which was established only three months ago to probe the $LIBRA cryptocurrency scandal and the involvement of President Javier Milei and his sister, Karina. This decision was announced in a decree published in the Official Gazette and was signed by Milei and Justice Minister Mariano Cúneo Libarona. The UTI was responsible for investigating claims of misconduct following Milei's public endorsement of the $LIBRA crypto token on X in February, which led to a surge in the currency's value followed by a decline.
According to the decree, the unit "has fulfilled the functions assigned to it." The closure of the UTI marks the end of the government's internal investigation into the issue.
The UTI was established in response to increasing political pressure following reports that a small number of wallets, which controlled the majority of $LIBRA tokens, were sold after Milei's publication, leading to a significant drop in the currency's value. Numerous retail investors lodged complaints, claiming they were misled and suggesting the possibility of a market manipulation scheme involving senior government officials. The UTI's duties included collecting documents from public and international organizations, addressing court requests, and identifying any attempts to tamper with evidence.
The $LIBRA controversy prompted Congress to establish a special investigative committee in April. Although the committee consists of 28 lawmakers, it has not yet initiated formal proceedings. Justice Minister Cúneo Libarona and Economy Minister Luis Caputo were both called to testify on May 14 but failed to appear.
The $LIBRA scandal has generated months of criticism from the opposition, which has raised concerns about the transparency of the connections between Milei’s public office and his private business interests. During his 2023 election campaign, while serving as a congressman, Milei and his sister Karina hosted dinners with business leaders, collecting $20,000 in cash from attendees. These payments were made without documentation and are not reflected in Milei’s campaign finance reports.
— Ignacio Olivera Doll, Bloomberg
