Well, I’ll be a monkey’s uncle! The Argentine government has just pulled the plug on the Investigation Task Unit (UTI), a fancy group set up by the Justice Ministry a mere three months ago to look into some shady business with the LIBRA crypto meme coin. President Javier Milei, the man who made this coin a household name, signed the decree himself. 🤔
Back in February, Decree 114/2025 brought the UTI to life, with the noble task of digging up dirt on why LIBRA’s price went on a wild rollercoaster ride after Milei gave it a shoutout on social media. You can read all about it here. The UTI worked closely with the Financial Information Unit, the Central Bank, and the Anti-Corruption Office, sending their findings to the Office of the Prosecutor General. Quite the team effort, if you ask me.
But lo and behold, on May 19, Milei and Justice Minister Mariano Cúneo Libarona decided the UTI had “fulfilled its functions” and was no longer needed. Check out the decree here. The scandal broke when it came to light that some high-ranking folks had been selling their LIBRA tokens after Milei’s post, much to the chagrin of investors who felt they were being played. More on that here.
Opposition lawmakers were quick to cry foul, accusing Milei of mixing his public duties with private interests. They pointed to his 2023 campaign events, where he allegedly raked in $20,000 in undocumented cash from business leaders during private dinners hosted by his sister, Karina Milei. While the UTI has packed its bags, a congressional investigative committee formed in April is still in the planning stages.
Justice Minister Cúneo Libarona and Economy Minister Luis Caputo skipped a scheduled May 14 hearing, citing completed requests for documentation from 12 agencies and compliance with the original mandate. The decree effectively puts the kibosh on any further executive branch investigations into the token’s volatility. The case now rests with the Prosecutor General’s Office, and lawmakers are still scratching their heads over what to do next.
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2025-05-20 21:59