The president of Argentina, Javier Milei, was exempt by the country’s anti-corruption office concerning his involvement in the controversial scandal of the Memecoin balance, which has led to significant financial losses for investors.
The announcement, made by local media, indicates that the office found no legal violation in the promotion by Milei of cryptocurrency earlier this year.
No legal violation found
In a resolution Released on Friday, the anti-corruption office said that Milei had acted as an economist rather than as an official when he approved the cryptocurrency of the balance on the X social media platform (previously Twitter) in February.
According to the resolution, Milei’s personal account was established well before his presidency and was not linked to any official action of the state linked to the cryptocurrency.
The office, led by Alejandro Melik, who was appointed by the Milei administration in December 2023, stressed that no procedure or state contract involving the balance even have been identified. In particular, the anti-corruption office launched its investigation at the request of Milei.
While the decision erases Milei with reprehensible acts, the case remains under investigation by the courts in Argentina, the United States and Spain. In April, the Lower House of Argentina voted to form a commission to probe the scandal, but the ruling party thwarted the efforts to advance the investigation.
The scandal of the balance has investigated
The scandal of the balance broke out on February 14, when President Milei publicly approved the cryptocurrency, saying that it would strengthen the Argentinian economy by supporting small businesses.
His announcement included a “contract number” which allowed potential investors to locate the token, which was not listed on trade. Initially, the value of the balance increased to more than $ 5, but dropped to almost worthless in a few hours, causing massive losses for thousands of investors.
Milei’s collaboration with Hayden Davis, the creator of the Memecoin Balance, made a meticulous exam. The reports indicate that Milei met Davis several times before the launch of the token, facilitated by Argentinian businessmen Mauricio November and Manuel Terrones Godoy.
These meetings have raised concerns, in particular after Sergio Morales, a former adviser to the National Commission for Securities of Argentina (CNV), resigned in the middle of the investigation of a prosecutor on his possible implication in the scandal.
The resolution of the anti-corruption office includes many references to United States Supreme Court Affairs And discusses the complexities of the distinction between personal and institutional responsibilities.
He concluded that even if Milei sometimes referred to public policies on his personal account, he did so in an unofficial basis, because the account previously had his government responsibilities.
Currently, the same is negotiated at $ 0.030, down more than 96% compared to its summit of all time reached on February 14. However, during the monthly period, the token recorded 37%gains.
BBC star image, tradingView.com graphic
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