The post Argentina President Javier Milei Orders Probe into KIP Protocol’s $LIBRA Cryptocurrency appeared on BitcoinEthereumNews.com.

Argentina’s President Javier Milei has ordered an investigation into the launch of the $LIBRA cryptocurrency, which has sparked widespread controversy. The decision comes after concerns arose about the project’s legitimacy, prompting Milei to delete a social media post that initially promoted it. The probe will examine whether any wrongdoing occurred in connection with the cryptocurrency’s release. President Javier Milei Orders Probe into $LIBRA Cryptocurrency According to an X post, the Office of the President has released an official statement outlining Milei’s decision to initiate a formal investigation into the $LIBRA cryptocurrency and its connections to KIP Protocol. The statement, released after the LIBRA token price crash, confirmed that the President had instructed Argentina’s Anti-Corruption Office (OA) to determine whether any government official, including himself, engaged in improper conduct related to the project. To further ensure transparency, Milei has also ordered the creation of an Investigation Task Unit (UTI) within the Presidency. This unit will include representatives from government agencies specializing in cryptocurrency regulation, financial activities, and anti-money laundering enforcement. Consequently, the goal is to collect and analyze all relevant data on the $LIBRA token, KIP Protocol, and individuals or organizations involved in the project. Subsequently, the findings of the investigation will be submitted to judicial authorities, who will assess whether any legal violations occurred. The President’s office reaffirmed Milei’s commitment to fully clarifying the situation and holding accountable any parties found to have engaged in wrongdoing. KIP Protocol Denies Role in Cryptocurrency Launch Following public scrutiny, KIP Protocol released a statement denying involvement in the launch and market-making activities of $LIBRA. The company stated that the token was fully managed by Kelsier Ventures, a separate entity represented by Hayden Mark Davis. KIP Protocol clarified that its role was limited to managing and overseeing tech projects after the launch, rather than…

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Filed under: News - @ February 16, 2025 4:23 am