Javier Milei, the President of Argentina, has ordered an investigation into the launch of the digital currency Libra, which has sparked widespread controversy. Concerns about the project’s legitimacy led Milei to remove a post endorsing this cryptocurrency from social media. The investigation aims to determine if any violations occurred related to the release of this digital currency. Milei has instructed the Anti-Corruption Office to examine if government officials, including himself, engaged in improper conduct regarding this project. For more transparency, Milei has ordered the establishment of a research unit at the Presidential Office composed of experts from government agencies specialized in regulating digital currencies, financial activities, and combating money laundering. The investigation will collect and analyze all data related to the Libra token, the KIP protocol, and individuals or organizations involved in the project. The results will be presented to the judicial authorities for a final ruling. The KIP protocol has denied any involvement in the launch and marketing activities of Libra, stating that the token is fully managed by Kelsier Ventures. Despite this, some users pointed out posts shared by KIP celebrating the success of the Libra token, raising further doubts about the company’s claims. Reactions to the Libra launch and subsequent controversies have also caught the attention of notable figures in the digital currency industry. Changpeng Zhao, the founder of Binance, has warned about the risks of digital currency projects endorsed by celebrities. Despite the clarifications provided by President Milei and the KIP protocol, the price of Libra has significantly improved. At the time of writing, the token’s price has reached $0.434, showing a 97% increase from the daily low of $0.123, but it is still 58% lower than its recorded peak price of $1.03 in the past 24 hours. You can track the prices of all tokens and cryptocurrencies in real-time on the live cryptocurrency prices page.
