Argentina’s lower house of Congress has passed multiple resolutions related to the LIBRA crypto scandal, advancing a formal inquiry into the controversial token. 

With mounting scrutiny surrounding President Javier Milei’s involvement, the Chamber of Deputies established a special investigative committee and summoned top executive branch officials.

These measures follow allegations linked to the collapse of the LIBRA meme coin and the legal actions taken against its creator, Haydone Davis.

Congress Approves Three Key Measures

The legislative body approved the creation of a special commission to investigate the scandal, with 128 votes in favor, 93 against, and 7 abstentions. 

In a separate vote, lawmakers agreed to summon high-ranking officials from the executive branch. This list includes Economy Minister Luis Caputo, Chief of Staff Guillermo Francos, Justice Minister Mariano Cúneo Libarona, and National Securities Commission (CNV) President Roberto Silva. The vote concluded with 131 in favor and 96 against.

Additionally, the Chamber passed a resolution requesting detailed information from the Executive Branch regarding the LIBRA token. This measure received 135 votes in favor, 84 against, and 7 abstentions. The resolutions emerged amid growing demand from legislators to determine whether the cryptocurrency’s downfall harmed Argentina’s financial interests.

Lawmakers Voice Differing Views

Furthermore, various members of parliament presented differing stances on the matter during the session. Pablo Juliano of the Democracy Forever bloc emphasized the need for legislative oversight. 

In contrast, Nicolás Mayoraz from President Milei’s La Libertad Avanza (LLA) party warned against overstepping judicial powers. He called the proposed commission an overreach.

Oscar Agost Carreño of Encuentro Federal and Karina Banfi from the UCR both stressed the legislature’s role in demanding political accountability. 

Banfi also pointed out that investigations are underway at both national and international levels. Meanwhile, Maximiliano Ferraro from the Civic Coalition emphasized the public’s right to transparency, as Germán Martínez of Union for the Homeland encouraged Congress to act decisively amid global political uncertainty.

However, LLA bloc leader Gabriel Bornoroni dismissed the opposition’s efforts, stating they aimed to disrupt government progress. He referred to the fiscal surplus achieved in 2024 and claimed inflation has consistently declined, attributing the backlash to the administration’s economic performance.

Legal Troubles Mounting LIBRA

The political developments follow legal proceedings targeting LIBRA token creator Haydone Davis. On March 13, Argentine lawyer Gregorio Dalbon submitted a formal request for Interpol to issue a Red Notice for Davis, whose company, Kelsier Ventures, launched LIBRA in February.

Argentine prosecutors identified Davis as the primary figure behind the token’s collapse, which triggered widespread financial losses. 

Following this, Burwick Law, a prominent crypto legal firm, filed a lawsuit against Kelsier Ventures and two associated platforms: Meteora and KIP Protocol. The case seeks disgorgement of profits and investor compensation for affected clients in the United States.