Argentine Congress votes to investigate Libra scheme and government officials

The Chamber of Deputies has approved three draft resolutions related to the Libra cryptocurrency scandal, including the creation of an investigative commission, the subpoena of various executive branch officials, and the request for information from the national government.

The creation of the investigative commission was approved by 128 votes in favor, 93 against, and 7 abstentions, while the initiative to question various executive branch officials about the Libra cryptocurrency was approved by 131 votes in favor and 96 against.

The invitation includes Chief of Staff Guillermo Francos, Minister of Economy Luis Caputo, Minister of Justice Mariano Cúneo Libarona and head of the National Securities Commission (CNV) Roberto Silva.

The investigative commission gets approval

The Chamber of Deputies also approved the request for reports from the Executive branch on various issues related to the Libra cryptocurrency with 135 votes in favor, 84 against, and 7 abstentions.

While discussing the subject in the chamber, Representative Pablo Juliano (Democracy Forever) declared that it was time for Congress to determine whether there is a potential threat to Argentina and that they are “committed to the truth.”

Representative Nicolás Mayoraz (LLA) is one of those opposing the commission and believes “it is an attempt to interfere in the judiciary.” Mayoraz has called for “respect for the division of state powers,” stating that his bloc “proposed a rejection ruling due to the overreach of this Commission proposal, primarily because it assumes powers that belong to the judiciary.”

Meanwhile, Representative Oscar Agost Carreño (Encuentro Federal) argued that the commission’s creation is perfectly justified in the face of all that happened with the $LIBRA scandal. “It is our duty to demand political explanations; to comply with democratic rules so that they can survive and build a network of trust,” Carreño said.

The scandal is being investigated nationally and internationally

Carreño’s counterpart, Karina Banfi (UCR), has revealed that the Libra scandal, which saw Javier Milei, the President of Argentina, publicly endorse a cryptocurrency called Libra via a post he shared on X, is now being investigated by national and international justice. At the same time, she emphasized: “We are committed to strengthening the Republic with laws that effectively change people’s lives.”

Maximiliano Ferraro (Civic Coalition), discussing the matter said:

“Society has the right to know the truth, and this Congress, and each of us, has the duty to demand and investigate it.”

Representative Germán Martínez, from the Union for the Homeland bloc, stated that “we have the opportunity to make a statement from the Argentine Congress,” adding that “in a global moment like the one we are experiencing, we must ensure that politics does not become unfocused.”

Gabriel Bornoroni, the leader of the ruling party (LLA) ended the debate saying, “all the opposition is doing is creating a show we’re used to.”

“I think they’re bothered by the fact that we had a fiscal surplus throughout 2024, and this year as well. They’re bothered by the fact that inflation continues to fall every month,” he remarked.

During the special session, a draft request for reports on the status of public works was approved and the Lower House also approved a motion to refer the Disability Emergency to the Budget and Finance Committee, upon the request of Representative Daniel Arroyo (UxP). A motion to refer the bills on the pension moratorium, at the request of Ricardo Herrera (UxP), will be discussed in plenary sessions of the Social Security and Budget and Finance Committees.

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