Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Argentina Crypto Watchdog Sidesteps LIBRA Mess, Focuses on New Rules

Argentina Crypto Watchdog Sidesteps LIBRA Mess, Focuses on New Rules

CoinEditionCoinEdition2025/02/19 16:00
By:Lipika Deka

Argentina’s CNV refuses to intervene in the LIBRA case, opting for stricter crypto regulations instead. LIBRA token’s collapse triggers legal complaints with the DOJ & FBI, fueling impeachment talks. Allegations link Karina Milei to bribery, intensifying scrutiny on Argentina’s crypto oversight.

  • Argentina’s CNV refuses to intervene in the LIBRA case, opting for stricter crypto regulations instead.  
  • LIBRA token’s collapse triggers legal complaints with the DOJ & FBI, fueling impeachment talks. 
  • Allegations link Karina Milei to bribery, intensifying scrutiny on Argentina’s crypto oversight.

Argentina’s financial watchdog, the National Securities Commission (CNV), has decided against intervening in the LIBRA case. Instead, the agency is moving forward with plans for stricter regulation of Virtual Asset Providers (PSAV). 

This decision signals a move toward tighter oversight of cryptocurrency operations nationwide. Sources indicate that the CNV, headed by Roberto Silva, is finalizing new, more detailed regulations. These rules aim to ensure market stability and protect investors.

New Crypto Rules Target Companies, Says Argentina CNV

CNV stated that the coming regulations will target companies that facilitate crypto operations, not individual investors. However, their reluctance to step into the LIBRA issue comes from the lack of legal rules covering token promotions on decentralized platforms. 

Related: Argentina’s Crypto President in Trouble: Milei Charged Over LIBRA Token Fail

The $LIBRA token, at the time of its launch, was not found in the main wallets registered as PSAV in Argentina, such as Lemon, and could only be purchased on decentralized platforms or wallets (DEX) that operate directly on the Solana blockchain,” explained sources to the matter.

Critics Slam Argentina’s Regulators For ‘Ignoring’ LIBRA Losses

Critics argue that this regulatory hole allows fraudulent schemes to thrive. Nic Puckrin of Coin Bureau criticized regulators for not taking responsibility for the scandal and other pump-and-dump scams. Ian Balina of Token Metrics even questioned the integrity of Argentina’s political-crypto ties.

The LIBRA scandal saw its market cap skyrocket to $4.56 billion before plummeting to $257 million. This crash triggered impeachment discussions and caused investor losses estimated at $100 million.

Related: Crypto Whale’s $96.87M $LIBRA Gains & $TRUMP’s 5.43% Market Dip: Price Analysis

Investigations further revealed payments to Karina Milei, the president’s sister, for favorable decisions. This has intensified scrutiny of the government’s inner circle.

Argentine lawyers have now filed a complaint with the DOJ & FBI over LIBRA’s collapse, urging an investigation into President Milei. While CNV has chosen to not intervene directly, growing political and public pressure might soon force a regulatory shift. As regulators struggle to address the crisis, this incident highlights clear weaknesses in the nation’s cryptocurrency oversight.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!