Argentina Drops Criminal Probe Against President Milei and Sister Over LIBRA Memecoin Collapse

Argentina has dropped its criminal investigation into President Javier Milei and his sister over the LIBRA memecoin scandal, closing the most significant legal threat to face his administration. Prosecutors cleared both from criminal liability stemming from Milei's promotion of the Solana-based token, which had surged in value before crashing roughly 95% shortly after he publicized it on social media.

The ruling underscores the difficulty of establishing criminal intent or direct wrongdoing in cases involving speculative cryptocurrency losses. Milei had denied any wrongdoing throughout the investigation, even as the scandal dogged his presidency, with reports earlier in 2026 surfacing that he had held multiple phone calls with a key figure behind the LIBRA project on the night he promoted it on social media.

The case had followed a turbulent path. Argentina established a special investigative task force, the Unidad de Tareas de Investigacion, which was later dissolved by Milei himself in May 2026 after it shared findings with prosecutors. A federal court had also frozen more than $507,000 in assets linked to the scandal at an earlier stage of the inquiry. The decision to drop the criminal probe sets a notable precedent for how courts may approach political and legal accountability in crypto-related cases going forward.