Argentina's Anti-Corruption Office has concluded that President Javier Milei did not violate ethics laws when he published a now-deleted post promoting the LIBRA memecoin. The agency stated the February post was made in a personal capacity and did not constitute an official act.
The ruling clarified that Milei's X account, where the post appeared, is personally managed and predates his political role. It added that the account identifies him as an economist rather than a public official, meaning the post is protected as a private expression under the constitution.
The investigation had been launched after LIBRA's price soared and then crashed following Milei's endorsement, which linked to the token's contract and a promotional site. Investors reportedly lost millions, and allegations of insider trading surfaced.
Although the Anti-Corruption Office cleared him, a separate federal court investigation remains ongoing, with Milei and his sister's assets temporarily frozen.
Despite the resolution, the scandal damaged public trust. Milei has maintained he acted in good faith, claiming the aim was to raise awareness of a private initiative to support small Argentine businesses through crypto.
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