The Argentine government 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, according to a decree published in the official gazette.
The decision was signed by Milei and Justice Minister Mariano Cúneo Libarona. The UTI was tasked with investigating allegations of irregularities after Milei publicly promoted the Libra crypto token on X in February, causing the currency’s value to rise and then fall.
The unit “has fulfilled the functions assigned to it,” according to the decree. Closing the UTI ends the government’s internal investigation into the matter.
The UTI was created amid growing political pressure after reports emerged that a handful of wallets controlling most of the Libra tokens had been sold after Milei’s publication, causing the currency to plummet. Many retail investors filed complaints, alleging that they had been misled by what they believed to be a market manipulation scheme in which senior government figures may have been involved. The UTI’s responsibilities included gathering documents from public and international bodies, responding to court requests, and flagging any attempts to manipulate evidence.
The fallout from the Libra controversy also led Congress to create a special investigative committee in April. Although 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.
The Libra scandal 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 $20,000 from the guests. The payments were received in cash, without documentation, and are not included in Milei’s campaign finance reports.
