TechFlow news, on June 8, according to The Block, Argentina's Anti-Corruption Office (OA) has ruled that President Javier Milei did not violate public ethics regulations when promoting the Libra ($LIBRA) cryptocurrency. The investigation concluded that Milei's promotional posts made from his personal account do not constitute official government action or endorsement.
In February this year, Milei promoted the Libra cryptocurrency on his personal X account, claiming it could support small businesses and startups in Argentina. However, after the token plunged 90% from its peak market capitalization of $2 billion, Milei deleted the post. Local media have dubbed this incident "Cryptogate".
Although the administrative investigation has ended, the related federal criminal court investigation remains ongoing, with class-action lawsuits from Argentina, the United States, and the United Kingdom also being processed. Additionally, Circle has recently frozen $57.6 million worth of USDC funds in two wallets belonging to Libra founder Hayden Davis.
