Argentina’s President Javier Milei has been officially cleared of ethics violations after endorsing the Solana-based LIBRA cryptocurrency, marking a significant moment in political crypto interactions.
The Anti-Corruption Office determined that Milei’s promotion was a personal act, distinct from official government policy, though a criminal probe into market manipulation remains active.
According to COINOTAG sources, “Milei requested the anti-corruption probe himself to determine whether there was improper conduct on the part of any member of the National Government, including the President himself.”
Argentina’s President cleared of ethics violations for LIBRA crypto endorsement; criminal investigation continues amid concerns over market manipulation and regulatory impact.
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The Anti-Corruption Office’s ruling emphasized that President Javier Milei’s February 2025 endorsement of LIBRA was a personal communication rather than an official government action. This distinction was crucial in clearing him of ethics violations, as the investigation found no misuse of public resources or state involvement in the promotion. Milei’s proactive request for the probe demonstrated transparency and a commitment to ethical governance, setting a new standard for political figures engaging with cryptocurrency markets. The ruling also alleviated immediate concerns within the Argentinian Chamber of Deputies, which had closely monitored the situation due to the potential implications on public trust and market integrity.
The LIBRA cryptocurrency experienced significant volatility following the president’s social media promotion, with rapid price surges followed by sharp declines. This event highlights the profound influence that high-profile endorsements can exert on digital asset markets, raising questions about the stability and susceptibility of cryptocurrencies to external stimuli. Financial analysts suggest that this incident may accelerate regulatory scrutiny on crypto endorsements, drawing parallels to previous cases such as the EthereumMax promotion controversy involving celebrities. The ongoing criminal investigation, focusing on potential securities law violations, underscores the increasing legal complexities surrounding influencer-driven crypto market movements and could shape future regulatory frameworks.
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Source: https://en.coinotag.com/argentinas-president-milei-cleared-in-ethics-probe-over-solana-based-libra-cryptocurrency-endorsement/