The Government ordered an investigation into KIP Protocol and the cryptocurrency $LIBRA.

In an official statement issued on February 15, the Office of the President of the Nation reported on the launch of the cryptocurrency project $LIBRA driven by the company KIP Protocol, which caused controversy.

According to the publication, President Javier Milei, after the repercussions caused by the post on his social media about the launch of the cryptocurrency, decided to take immediate measures to clarify the situation and ensure that there are no irregularities involved.

The process began with a meeting held on October 19, 2024, between President Milei and the representatives of KIP Protocol, Mauricio Novelli and Julian Peh.

During this meeting, which was duly recorded in the Public Hearings Registry, they were presented with the initiative "Viva la Libertad," a project that seeks to finance private ventures in Argentina using blockchain technology.

In its statement, the Office of the President clarified that the meeting was purely informative and did not imply a commitment or direct link of the National Government with the development of the project.

On January 30, 2025, Milei held a new meeting, this time with Hayden Mark Davis, who, according to the representatives of KIP Protocol, would provide the necessary technological infrastructure for the project.

The Presidential Office made it clear that Davis has no connection with the Argentine government and was presented as a partner of the company, but without institutional relation with the country.

The statement clarifies that, yesterday, Milei shared a post on his personal accounts announcing the launch of the KIP Protocol project, just as he routinely does with many entrepreneurs who want to launch a project in Argentina to create jobs and attract investments.

However, after the media repercussions and to avoid unnecessary speculation, Milei decided to delete said post.

The government statement made it clear that the president had no involvement in the development of the $LIBRA cryptocurrency.

The investigation

Despite this, in an effort to guarantee transparency and integrity of the process, Milei announced that he would instruct the Anti-Corruption Office (OA) to investigate whether any member of the National Government, including the President himself, engaged in improper conduct in relation to the KIP Protocol project. The OA will be responsible for determining if there are elements indicating violations of ethical or legal regulations.

Additionally, the president decided to create an Investigation Task Unit (UTI), dependent on the Presidency of the Nation, to urgently address this matter. This unit will be composed of representatives from various agencies and authorities competent in areas such as crypto assets, financial activities, money laundering, and related crimes.

The objective of the UTI will be to gather information to initiate a thorough investigation into the launch of the $LIBRA cryptocurrency, with a special focus on the companies and individuals involved in this operation.

All the information obtained will be delivered to the Justice to determine if any of the companies or individuals involved in the project committed any crime.

This commitment to transparency and justice reflects President Milei's stance, who has demonstrated with actions his dedication to the truth and is committed to the proper clarification of this matter to the fullest extent.