The Latest Breaking News from Javier Milei

President Milei under scrutiny for endorsing $LIBRA cryptocurrency in Argentina, facing fraud allegations.

Argentine President Javier Milei on Monday denied promoting a cryptocurrency that crashed, losing investors billions of dollars and prompting a flood of complaints, as prosecutors reportedly prepare an investigation into the scandal.

Argentine lawyers filed fraud charges against President Javier Milei Sunday following his promotion of the $LIBRA token, which hit a $4 billion market cap before crashing over the weekend after he pulled support for the project.

The plaintiffs said Milei’s action was an operation known in the crypto world as ‘rug pull’

Argentina's President Javier Milei admitted making a mistake on Saturday after promoting a cryptocurrency whose value soared and then crashed, with his office announcing an "urgent investigation".

As part of a broader policy shift, the government plans to "start from scratch" regarding the permits.

Inflation, the perennial bugbear of South America's second-biggest economy, was down from 2.7% in December, it said, and January was the fourth straight month in which prices rose by less than 3%.

Some European business leaders are asking the question, is it possible to make a similar move towards deregulation as in the U.S.?

"The effects were immediately seen by everyone and they were all beneficial," says the former vice president of Argentina's central bank.