Argentina's Congress Approves LIBRA Token Crash Probe

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Argentina to Probe LIBRA Token Crash, Targets President Milei’s Officials

Written by Aaron S.,

Editor-In-Chief

Last Updated: April 09, 2025

Key Takeaways

Argentina's Congress approved a special committee to investigate the LIBRA scandal after growing pressure on Milei's government;
The probe will examine possible failures by officials and request info from national agencies to uncover what led to the token's crash;
Lawmakers can summon top government figures, including key ministers, to explain their roles in the LIBRA scandal.

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Argentina to Probe LIBRA Token Crash, Targets President Milei’s Officials

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Argentina’s Chamber of Deputies has agreed to set up a special committee to investigate the collapse of the LIBRA token.

The vote follows months of pressure on President Javier Milei’s government, which has faced criticism since the token’s sudden crash in February.

The decision was made on April 8 after lawmakers passed three resolutions supporting the creation of the investigation. The committee will look into possible failures by government officials and request information from national agencies to understand what went wrong.

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During the debate, Representative Pablo Juliano said Congress must step in and check whether the public was affected.

On the other side, Gabriel Bornoroni, representing the president’s party, said the opposition was using the issue for political gain. He suggested they were upset that the government had achieved a budget surplus in 2024 and again this year.

The vote to create the committee ended with 128 in favor, 93 against, and 7 choosing not to vote.

The commission will be able to call several top officials to provide answers. These include Economy Minister Luis Caputo, Roberto Silva, the head of the National Securities Commission, Chief of Staff Guillermo Francos, and Justice Minister Mariano Cúneo Libarona.

Recent research by Zuban Córdoba suggested that many Argentinians have lost trust in President Milei following his connections to the $4.6 billion LIBRA token scandal. What did the research say? Read the full story.