Lawmakers in Argentina are taking motion to research a cryptocurrency scandal involving the nation’s president, Javier Milei.
On February 14th, the worth of the newly launched LIBRA memecoin surged after Milei posted in regards to the undertaking on his social media accounts.
Inside hours, the token crashed, inflicting over 75,000 retail buyers an estimated $280 million in losses. Milei eliminated his posts 5 hours after making them.
The incident prompted allegations of a rug pull rip-off, which occurs when backers hype and inflate the worth of a crypto asset after which out of the blue abandon the undertaking after taking the buyers’ funds.
The Chamber of Deputies, the decrease home of the Argentine Nationwide Congress, is now pushing ahead with the investigation of the scandal following the approval of three draft resolutions associated to LIBRA.
The primary decision to create an investigative fee was authorized with 128 votes in favor, 93 in opposition to and 7 abstentions.
The second, which seeks to query govt department officers, together with Chief of Workers Guillermo Francos, Minister of Financial system Luis Caputo, Minister of Justice Mariano Cúneo Libarona and head of the Nationwide Securities Fee (CNV) Roberto Silva, acquired 131 affirmative votes and 96 destructive votes.
The third decision to request stories from the nationwide authorities on numerous points related to the Libra cryptocurrency was authorized with 135 votes in favor, 84 in opposition to and 7 abstentions.
Observe us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Examine Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Each day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses chances are you’ll incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
