Argentine President Javier Milei has been sued on criminal charges for promoting a digital currency.
Argentine President Javier Milei on February 14 posted on social network X an article promoting LIBRA, a digital currency created to "encourage economic growth by financing small businesses and startups," according to AP.
Mr. Milei deleted the post a few hours later and the value of LIBRA plummeted, causing millions of dollars in losses for new investors in the coin, according to financial site Dexscreener .
Argentine President Javier Milei is facing legal trouble for promoting digital currency
LIBRA was developed by KIP Protocol and Hayden Davis. When buying, investors will access a link to a website called vivalalibertadproject.com , a reference to the famous phrase that Mr. Milei used to end his online speeches.
The Argentine President's Office issued a statement on February 15 saying that Mr. Milei was not involved in the development of digital currency and decided to delete the article to avoid speculation and limit the number of people who could read it.
President Milei said he was unaware of the development of the digital currency and criticized political opponents for trying to dig into the matter. "I did not know the details of the project, and after being informed, I decided not to continue promoting it. That is why I deleted the post," Milei explained.
A political coalition announced on February 15 that it would propose impeaching Mr. Milei over the incident, according to CNN, while lawmakers close to the leader opposed it and called it a plot to overthrow the president.
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Attorney Jonathan Baldiviezo, one of the plaintiffs, argued that an illegal association was set up to commit multiple frauds in the case. "Fraud was committed, in which the actions of the president played a major role," Baldiviezo said.
The criminal judge is expected to appoint a judge to hear the case on February 17 or refer it to prosecutors for further investigation.
The government said Argentina's Anti-Corruption Office would take immediate action and acknowledged that Mr. Milei had recently met with KIP Protocol representatives at the presidential palace.
Founder and one of those present at the meeting, Hayden Davis, criticized President Milei for suddenly changing his stance despite previous commitments, withdrawing support and deleting posts that caused LIBRA to crash.
Source: https://thanhnien.vn/tong-thong-argentina-doi-dien-viec-luan-toi-vi-quang-ba-tien-ky-thuat-so-185250217075231234.htm
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