Argentina’s Chamber of Deputies has agreed to set up a special committee to investigate the collapse of the LIBRA token.
The vote follows months of pressure on President Javier Milei’s government, which has faced criticism since the token’s sudden crash in February.
The decision was made on April 8 after lawmakers passed three resolutions supporting the creation of the investigation. The committee will look into possible failures by government officials and request information from national agencies to understand what went wrong.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What Is Tether? (USDT SIMPLY Explained With Animations)
During the debate, Representative Pablo Juliano said Congress must step in and check whether the public was affected.
On the other side, Gabriel Bornoroni, representing the president’s party, said the opposition was using the issue for political gain. He suggested they were upset that the government had achieved a budget surplus in 2024 and again this year.
The vote to create the committee ended with 128 in favor, 93 against, and 7 choosing not to vote.
The commission will be able to call several top officials to provide answers. These include Economy Minister Luis Caputo, Roberto Silva, the head of the National Securities Commission, Chief of Staff Guillermo Francos, and Justice Minister Mariano Cúneo Libarona.
Recent research by Zuban Córdoba suggested that many Argentinians have lost trust in President Milei following his connections to the $4.6 billion LIBRA token scandal. What did the research say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
