The controversy has turned what was once a promising regulatory path into political quicksand, leaving Argentina’s crypto landscape in turmoil. The promise of crypto regulation in Argentina, once fueled by the rise of pro-crypto president Javier Milei in late 2023,

Argentine President Javier Milei is facing a corruption probe into his promotion of a meme coin, which is a highly speculative form of cryptocurrency that’s seen a recent surge in popularity after President Donald Trump and his wife launched tokens of their own.

$LIBRA is a token issued by entrepreneur Hayden Davis, who is also the CEO of a crypto investment firm called Kelsier Ventures, according to a report by Bloomberg. KIP Protocol, a Web3 company building a decentralised AI framework, reportedly played a role in the launch of $LIBRA as well.

Argentina’s president Javier Milei touched down in Washington, D.C., on Thursday, arriving in the middle of the biggest political firestorm of his presidency.

Argentina's president faces his first major political crisis as the so-called "cryptogate" scandal shakes his credibility. The failed cryptocurrency endorsement sparks legal trouble, political fallout and media backlash.