Argentina Court Dismisses Charges Against President Milei in 'Libra' Case

Milei Cleared of Charges in Libra Meme Coin Case

An Argentine court has dismissed charges against President Javier Milei, his sister Karina Milei, and other defendants connected to the 2023 launch of the 'Libra' meme coin. The ruling, issued Friday, found that financial losses stemming from the project were insufficient to qualify as a fraudulent scheme.

The case centered on allegations that investors were misled regarding the potential of the Libra token. Critics claimed the project lacked a viable business plan and that its association with President Milei created a false sense of security. However, the court determined the losses experienced by investors did not reach the level required to prove criminal intent.

The Libra token, launched in July 2023, quickly faced criticism for its lack of utility and rapid price decline. President Milei, a vocal proponent of cryptocurrency and libertarian economics, had promoted the token on his social media channels. The dismissal of charges removes a significant legal challenge for the president, who has continued to advocate for broader adoption of digital assets within Argentina.

Source: Bitcoin.com News