Javier Milei, the President of Argentina, has found himself at the center of a legal controversy related to the LIBRA memecoin.
A group of attorneys has filed a complaint, which is expected to reach prosecutors by Monday, local time.
Legal Complaint Details
The Associated Press reports that the legal challenges stem from a serious incident that occurred over the weekend involving what is known as a ‘rug pull’ with the Libra token.
Plaintiffs argue that Milei acted fraudulently.
They claim that his deletion of social media posts supporting the token contributed to its plummeting value, thereby misleading investors who put their trust in it.
Milei’s Defense
In defense of the allegations, Milei’s office has asserted that he was not fully aware of the situation concerning the token.
They emphasized that his posts were part of his broader commitment to endorse various startups and innovative projects within Argentina.
The president’s team pointed out that he had announced the launch of the KIP Protocol on social media, much like he does with other initiatives aimed at fostering job creation and drawing investments.
Notably, they also mentioned that Milei had previously met with the project’s team in his office.
Future Implications
While formal charges have yet to be filed against Milei, the Associated Press has indicated that prosecutors will gather on Monday to determine if the claims hold enough weight for further legal proceedings.
Moreover, blockchain experts have begun to identify potential links between the Libra token’s development team and another project known as the Melania token, hinting at overlapping wallet usage patterns.
As the situation unfolds, all eyes are on the developments that may arise from this legal case, reflecting the complex intersection of politics and the volatile world of cryptocurrencies in Argentina.
Source: Coindesk
