Milei’s crypto promoting not improper, Anti-Corruption Office says

Argentina President Javier Milei didn’t act improperly when he promoted a crypto token called '$LIBRA' in February, according to a decision by a government anti-corruption office.

The National Anti-Corruption Office, which operates under a government ministry, ruled that when Milei sent the post on X, it was in a personal capacity and without federal resources. He didn’t break a federal law governing ethics for public officials, the decision said.

Separately, a federal criminal court continues to investigate the case.

At the time, the $LIBRA scandal dented the reputation of Milei, who’s won the admiration of Wall Street since he came to power 18 months ago on a mission to turn Argentina’s perennially troubled economy around by unleashing free markets.

The blunder seemed to blow over for Milei, whose approval ratings remain high as inflation slows, keeping voters’ hopes alive that his policies will work.

Milei has denied any wrongdoing, saying that when he posted on X after meeting $LIBRA’s founders it wasn’t to persuade people to buy it, but to raise awareness about an effort to support Argentine businesses using crypto.