Buenos Aires, Feb 18 (V7N) – Argentine President Javier Milei is facing legal action for allegedly promoting cryptocurrency fraud, according to a report by Qatar-based media outlet Al Jazeera.

On Friday (February 16), local time, Milei promoted a cryptocurrency named Libra on his social media accounts, stating that it was beneficial for small businesses and startups. He also shared an investment link, which led to a sharp rise in the coin’s value.

However, just a few hours later, Milei deleted the post, after which the coin’s value plummeted, causing significant losses for investors.

Following the incident:

  • Opposition MPs announced they were initiating impeachment proceedings against Milei.
  • A fraud case has been filed against Milei in the Argentine Criminal Court.

The controversy has intensified political tensions in Argentina, as critics accuse Milei of market manipulation and misleading investors. The President's office has yet to release an official statement on the matter.

END/RH/AJ