title: Milei shutters office investigating ‘cryptogate’ $LIBRA scandal

Argentina's government has dismantled the Investigative Task Force (UTI), a body created just three months ago to investigate the $LIBRA cryptocurrency scandal and the roles of President Javier Milei and his sister Karina

Argentina's government has closed the Investigative Task Force (UTI) that was set up just three months ago to probe the $LIBRA cryptocurrency fraud and the alleged roles of President Javier Milei and his sister Karina, according to a decree published on Wednesday in the Official Gazette.

The decision, which was signed by Milei and Justice Minister Mariano Cúneo Libarona, brings to an end the government’s internal investigation into the cryptocurrency fraud.

The UTI was tasked with investigating allegations of irregularities after Milei’s involvement in the $LIBRA crypto token was revealed earlier this year.

In February, Milei took to X, formerly known as Twitter, to promote the $LIBRA crypto token, which is named after the currency used in the fictional world of "Harry Potter." After his post, the token's value soared but later plummeted, leaving behind a trail of complaints from retail investors and allegations of a market manipulation scheme.

The unit’s responsibilities included gathering documents from public and international bodies, responding to court requests, and flagging any attempts to manipulate evidence.

The UTI is being closed after its functions “have been fulfilled,” according to the decree.

The $LIBRA crypto case has sparked months of criticism from the opposition, which questioned the transparency of the relationship between Milei’s public office and private business.

During his 2023 election campaign, while he was a congressman, Milei and his sister Karina organized dinners with business leaders at which they collected US$20,000 from the guests. The payments were received in cash, without documentation, and are not included in Milei’s campaign finance reports.

After reports emerged that a handful of wallets controlling most of the $LIBRA tokens had been sold, causing the currency to plummet, the case also led Congress to create a special investigative committee in April.

Despite being composed of 28 lawmakers, the committee has yet to begin formal proceedings. Justice Minister Cúneo Libarona and Economy Minister Luis Caputo were both summoned to appear on May 14 but did not show up.