Milei shuts down LIBRA task force probing ties to his administration

Argentinian president Javier Milei has ordered the closure of the Task Force for Investigation (UTI) established earlier this twelvemonth to analyse his narration with the LIBRA token, according to a May 20 publication successful Argentina’s Official Gazette.

Milei and Justice Minister Mariano Cúneo Libarona signed Decree 332/2025 to dissolve the task force. The decree stated the forwarding of accusation gathered to the Public Prosecutor’s Office, and that the UTI had completed its mandate.

Additionally, section quality outlet Ámbito reported that Argentine judicial authorities person confirmed that the broader transgression probe volition proceed nether the Public Prosecutor’s Office. 

Investigators measure whether fiscal crimes oregon conflicts of involvement hap erstwhile involving statesmanlike associates.

The disbanded task unit has not released immoderate authoritative findings, and the identities of the archetypal LIBRA developers stay undisclosed. 

LIBRA aftermath

Decree 114/2025 formed the UTI. It tasked it with determining whether fraudulent enactment oregon misconduct occurred successful the promotion and illness of LIBRA, a memecoin Milei personally endorsed via his authoritative X relationship connected Feb. 14. 

The LIBRA lawsuit has generated wide ineligible and governmental fallout. Shortly aft Milei’s nationalist endorsement, which framed the token arsenic a way to fiscal freedom, LIBRA’s marketplace capitalization surged to implicit $4.5 billion. 

The accelerated emergence drew successful ample retail concern volumes, lone for the token to clang by much than 85% wrong days. Trading liquidity evaporated, prompting accusations of marketplace manipulation and insider profiteering, which resulted in Milei’s nationalist spot plummeting.

Milei marketed LIBRA arsenic a mode to money tiny ventures successful Argentina. Following the crash, absorption lawmakers accused the Milei administration of promoting an unregulated fiscal instrumentality to politically aligned investors. 

Furthermore, a national justice successful Argentina ordered the freezing of assets belonging to individuals tied to the project. 

Judge María Servini besides authorized investigators to bypass banking secrecy protections to analyse the fiscal records of some President Milei and his sister, Karina Milei, amid allegations of links to the token’s backers.

Since the task unit has not published a study with its investigation’s results, the ties betwixt LIBRA issuers and Milei’s medication are unclear.

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