Argentine Court Dismisses LIBRA Memecoin Probe
Federal judge Marcelo Martínez de Giorgi has ordered the dismissal of criminal proceedings against President Javier Milei and his sister Karina Milei, according to recently released court documents. The investigation centered on their alleged involvement in the LIBRA memecoin controversy that emerged in early 2025.
Investigation Timeline and Termination
The judicial probe was initiated in February 2025 to examine potential fraudulent activities during the promotion and distribution of LIBRA tokens. As reported by Argentine newspaper La Nación, prosecutor Eduardo Taiano had previously filed a formal request with the court seeking termination of the case.
A key element of the investigation involved President Milei's social media activity on platform X, where he had posted content promoting the LIBRA token. Following significant volatility in the token's market value, those posts were removed, with Milei subsequently denying any direct affiliation with the cryptocurrency project.
Implications of the Judicial Decision
The court's ruling effectively concludes all criminal proceedings against the president and his immediate family member. While detailed judicial reasoning remains partially confidential, available documentation suggests both prosecutor and judge determined insufficient grounds to continue the criminal investigation.
This development carries several potential implications:
- Political dimension: Removes ongoing legal uncertainties for the presidency
- Market dimension: Provides new reference point for cryptocurrency regulation debates
- Judicial dimension: Demonstrates independence in handling politically sensitive cases
The presidential administration has not yet issued official comments regarding the dismissal. Legal observers note that cryptocurrency-related investigations involving sitting heads of state remain relatively uncommon in global judicial practice.