In brief
Argentina has dropped a criminal probe into President Javier Mile’s alleged ties to the collapsed $Libra cryptocurrency, with a federal judge ruling that the events do not constitute a crime. The case originated from Mile’s brief X post that promoted the digital coin, which saw a brief price surge before plummeting, wiping out many investors and sparking impeachment calls. Mile has denied any wrongdoing, stating he merely shared a link and withdrew the post upon learning the project was dubious. The investigation’s dismissal comes as the president faces no immediate legal consequences, but the political fallout lingers.
Argentina drops the criminal investigation into President Javier Mile and his sister Karina after a federal judge ruled that the alleged crypto fraud does not meet the legal definition of deception. The court followed a request from prosecutors to close the case, finding no criminally relevant wrongdoing.
The inquiry began after Mile’s brief post on X – Twitter’s former name – which highlighted a newly launched cryptocurrency called $Libra. His endorsement sparked a sudden price increase, only for the coin to crash within hours, wiping out the investments of many users.
Opposition members of the Argentine Congress reacted quickly, moving to open impeachment proceedings. Many online commentators accused Mile of a "rug pull," a tactic in which a cryptocurrency is promoted only to be abandoned, leaving buyers stranded.
In response, Mile stated that he was not involved in developing the token and that he had removed the post after learning it was a scam. He reiterates that the investors were fully aware of the associated risks.
The official spokesperson for Mile’s office confirmed that the president would not pursue any legal action, citing the judge’s findings. The Anti‑Corruption Office has also stated that it will examine whether any unethical conduct occurred.
While the investigation has been dropped, the incident has left political leaders and the public questioning the safety of digital currencies and the role of public officials in endorsing them.
