• Milei dissolved the $Libra Probe unit regardless of having no public discovery and inflicting extra protest than opacity.
• $Libra Crash’s expense investor has prompted a authorized investigation at $250 million after Milei’s promotion.
• Critics say the UTI shutdown goals to guard Milei in judicial and congressional scrutiny.

President Javier Milei has immediately shut down authorities forces investigating its connection to the $Libra Cryptocurrency scandal, elevating new considerations about Argentina’s transparency and political accountability.

Based simply three months in the past, the particular unit was tasked with investigating allegations of fraud and fraud associated to Memecoin’s fast rise and crash, leaving retail traders with an estimated lack of $250 million.

Milei, who personally promoted cash on social media, now claims the unit The purpose has been accomplished. Nonetheless, critics argue that the transfer seems untimely and politically motivated, as the general public findings haven’t been made public.

Scandal that shook the Argentina crypto sector

The Analysis Process Unit (UTI) was based on February nineteenth, only a few days after the $Libra token was launched on February 14th. On the time, President Mairay promoted the coin on social media and welcomed it as a personal initiative to spice up Argentina’s battle financial system. He incentivized funding, claiming it could help small companies and entrepreneurs.

Nonetheless, inside hours of Milei’s approval, $Libra had skyrocketed in worth, then crashed practically 90%. Business specialists have named this case “Ragpur.” It is a scheme through which builders abandon the mission after elevating substantial funds. Greater than $4.5 billion has handed by means of the coin, with 1000’s of traders blinded by the sudden drop.

Milei later distanced himself from $Libra and denied its involvement within the construction and operations regardless of earlier public approvals.

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The legislation causes backlash and raises questions

In Regulation 332/2025, Justice Minister Mariano Cuneo Livarona co-signed it to announce the dissolution of UTI. The unit stated it had fulfilled the problem by forwarding the collected info to the prosecutor’s workplace. Nonetheless, the dearth of publicly out there findings raises eyebrows all through the political spectrum.

Particularly, the order adopted strain to determine a parliamentary committee just lately to analyze the matter independently. Decide María Romilda Servini is at the moment main a parallel judicial investigation into Milei’s potential function within the scandal. Moreover, class motion lawsuits have emerged in america because the president accused him of being deceptively promoted and negligent.

Watchdog grows silence and scrutiny from prosecutors

The prosecutor’s workplace has not but launched its conclusions relating to the $Libra case. Moreover, native reviews recommend that investigations are nonetheless lively inside the Anti-Corruption Bureau, the Central Financial institution, and the Nationwide Securities Fee.

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Maria Florencia Zicabo, a detailed ally of Justice Minister Cuneo Livarona, now leads the unit of Disman. Critics have argued within the ongoing enquiries in regards to the timing of the closure, displaying intentional makes an attempt to curb scrutiny and defend political pursuits.