Argentine President Javier Miley did not violate his presidential duties when he promoted Libra Memocoin, the country’s Anti-Coin Bureau said in a recent decision.
In a resolution on June 5, the Anti-Corruption Office approved the Libra token on the X-Post on February 14th, Milei said that he was acting in personal capacity, so Milei did not violate Argentina’s federal ethics law.
The decision was likely due to the contribution of investors as Mailey’s support lost a total of $251 million and encouraged opposition members to seek Mailey’s each.
Libra reached a market capitalization of $4 billion shortly after Milei’s X-Post, but crashed after about 94%, with many features of classic crypto pumps and dumps.
Milei had expressed his personal opinion, Watchdog says
The Anti-Corruption Bureau said no public resources were used in the incident and that Mairay had been sharing his views on X since 2015, about eight years before he became president.
“The account sometimes refers to public policies or decisions from his administration, but does so in a non-institutional way that serves as a platform for political and personal expression,” the Bureau of Anti-Corruption said in a Spanish translated document.
“These characteristics of the personal accounts of Social Network X are typical of citizens who publicly express political ideas,” the department adds, saying that Mairay is exercising his civil and political rights under the Argentine constitution.
Related: US court freezes $57 million USDC allegedly linked to the Libra scandal
Mairay also vehemently denied the misconduct, claiming that he would not promote Libra’s memo coin and “spread the word” about it.
Despite the Bureau of Anti-Corruption decision, the federal criminal court is still investigating Mairay’s involvement in the Libra token scandal.
Furthermore, the task force did not discover any fraudulent behavior.
On May 19, Mairay signed a law to close the task force established to investigate the Libra scandal.
No action has been taken against Mairay or any other Argentine officials who are allegedly linked to the scandal.
However, some critics say that no legitimate investigation was done properly in the first place.
“It’s always been a fake, they dare not to investigate anything, and they’re completely close to their necks, so they’re covering each other,” Itai Hagman, an Argentine economist and member of the Argentine lawmaker, told the X-Post on May 20.
Milei still hurt his image
Data from the March voting platform Zuban Córdoba suggests that the Libra scandal had a negative impact on Milei’s image and evaluation of national management approval.
The latter of these metrics fell from 47.3% in November to 41.6% in March. 1,600 respondents were asked if Milei still had faith after the incident.
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