Argentina Freezes $100M in LIBRA Cryptocurrency Amidst Investigation
1min read Argentine prosecutors have moved to freeze $100 million in cryptocurrency derived from the sale of LIBRA, the digital currency proposed by facebook. The request was made by Eduardo Taiano, the prosecutor in charge of the case, who also sought detailed records of LIBRA transactions.
The move comes as part of an ongoing investigation into the potential illegal activities surrounding the LIBRA project. The prosecutor's office has not yet provided specific details on the alleged violations, but the freeze order suggests that there are serious concerns about the source of the funds and their potential use.
The LIBRA project has been the subject of intense scrutiny since it was first announced in 2019. The proposed digital currency has faced criticism from regulators and lawmakers around the world, who have raised concerns about its potential impact on financial stability and consumer protection.
In response to the freeze order, a spokesperson for the LIBRA Association, the organization responsible for the development and governance of the LIBRA network, stated that the association is cooperating with the Argentine authorities and is committed to ensuring the integrity of the LIBRA project.
The freeze order is the latest development in a long-running saga surrounding the LIBRA project. The proposed digital currency has faced numerous challenges, including regulatory hurdles and technical difficulties. Despite these setbacks, the LIBRA Association has remained committed to the project and has been working to address the concerns of regulators and the public.
