Law & Policy

Argentine President, Javier Milei, is facing fraud charges and possibly impeachment after he endorsed $LIBRA on X last week – let’s talk about it…🧵

Regulation analyst and researcher. Have a background in politics and competition economics. Decentralise.

As a result, Milei is now facing fraud charges and an impeachment attempt from the opposition party.

It is not just Milei’s opposition though, even former allies have denounced him for engaging in crypto fraud while representatives from his inner circle have confirmed he was not hacked.

It is leaders and people like Milei who pose the biggest threat to crypto’s legitimacy – if all the mainstream sees is weird, extremist grifters scamming ordinary people, no one will trust it

This draws a lot of similarities to the $TRUMP token and helps me to reiterate my arguments about government getting close to crypto, especially far right-governments

The very nature of crypto is anti-establishment. It’s aim is decentralisation and to provide an alternate currency system unaffected by establishment institutions – do you really think libertarian leaders who promote/rely the concentration of wealth among existing elites want to see their modes of asset-holding, income and more be changed to a decentralised system?

Of course they don’t. Pro-crypto governments provide exciting opportunities as we are seeing in the US – but we must always be vigilant of how the elite class interacts and attempts to profit like this.

Milei’s endorsement of the LIBRA token was followed quickly by a $4.5bn pump and crash. Critics have slammed Milei and the token’s developers for the potential rug pull.

Interested in legal technology, crypto, blockchain, DeFi and real world assets.
Time spent: Experts.com & CougarDAO LLC.

Oh cool - I might give it a listen. What were some of their thoughts?

Was just hearing about this on the Unchained Pod. Fascinating how quickly this is developing.

While still President he would be immune to punishment unless he is impeached – if charges are brought against him there will be more grounds for impeachment but it is still unlikely due to opposition parties not having enough votes to decide this. So probably nothing, at least while he is President. Will worsen approval ratings and economic credibility of Argentina right now though

Just curious of found guilty of thie charges, what would be his punishment?