President Milei Free of Crypto Fraud Charges After Court Dismissal

The long-running legal fight over a popular cryptocurrency has finally ended for Argentine President Javier Milei.

Federal judge Marcelo Martinez de Giorgi formally dropped the criminal investigation this week. This decision follows a request from prosecutors who sought to close the file. In his written ruling, the judge stated that the reported events did not fit into a specific legal category. He concluded that there was no proof of criminally relevant deception. This ruling effectively clears both the president and his sister, Karina Milei, of the charges.

To understand how this happened, it helps to look back at early 2025. The controversy began with the launch of a new token called $Libra. In February of that year, Milei posted on the social media platform X, formerly known as Twitter. He claimed the coin would help fund small businesses and startups. He even included a direct link for people to buy the asset. Immediately after this post, the price of the token climbed sharply.

The situation changed quickly. Within just a few hours, Milei removed the post from his account. As the post disappeared, the value of the coin plunged. Most investors who had bought in during that brief spike lost the majority of their money. The episode sparked significant backlash. Opposition members in Congress began planning impeachment proceedings. Critics online used the term rug pull to describe the incident. They argued that promoters had drawn in buyers and then halted trading to keep the raised funds.

Milei has never accepted these criticisms. He maintained that his actions were innocent. In an interview with Todo Noticias, he clarified his role by stating, I didn't promote it, I merely shared it. He added that he acted in good faith while the coin's value was rising. He defended his decision to delete the post by explaining that he did not know the details of the project. After learning more about it, he decided not to continue promoting it. In a separate television interview, he argued that investors had acted voluntarily and understood the risks involved.

The presidential office has consistently stated that Milei had no involvement in the actual development of $Libra. At the time of the incident, the office announced that the Anti-Corruption Office would examine whether the president had acted improperly. That review process has now led to the final dismissal of the case. The judge's decision marks a significant victory for the administration in this specific legal arena.

As of the most recent reports, Milei had not responded to news of the dismissal. The case is now considered closed in the criminal courts. This outcome resolves one of the most prominent controversies of his tenure. It allows the administration to move forward without the weight of that specific investigation hanging over it. The dismissal highlights the complex intersection of modern digital assets and traditional legal frameworks in Argentina.

This conclusion does not stop all political debates about the incident, but it does settle the criminal aspect. For many observers, the end of this case signals a shift in how digital finance is viewed in the country. The legal team behind the prosecution found that the actions taken did not meet the threshold for a crime. This precedent may influence future cases involving digital assets and political figures. The matter is now officially off the criminal docket, bringing a period of clarity to a situation that had been clouded by uncertainty for over a year.