Argentina's President Milei denies crypto fraud allegations

Javier Milei says he was acting in "good faith" when he posted about a crypto currency which collapsed.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcastsRadioVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersArgentina's President Milei denies crypto fraud allegations3 hours agoVanessa BuschschlüterBBC NewsReutersArgentine President Javier Milei has denied promoting a newly launched cryptocurrency which collapsed shortly after he mentioned it in a social media post on Friday.

The cryptocoin $Libra quickly rose in value before nosediving, causing severe losses for the majority of people who had invested in it.

A judge will now determine if the president should face fraud charges over the incident.

On Monday, Milei said he had acted "in good faith" and dismissed investors' complaints, comparing their actions to people who gamble: "If you go to a casino and lose money, what's there to complain about when you knew the risks?"

President Milei spoke about the $Libra incident in an interview with Argentine TV channel Todo Noticias on Monday, after a weekend during which he had stayed unusually quiet on social media.

https://www.bbc.com/news/articles/c1w07nq8qqqo

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