The president of the National Tax Court, Miguel Licht, explained why he believes there was no crime in the promotion of the cryptocurrency Libra by President Javier Milei. Licht, a lawyer specializing in Tax Law, argued that cryptocurrency activities are legal in Argentina and that if the president did not receive compensation for his promotion, it cannot be considered a crime.
Regarding the accusations of market manipulation, Licht pointed out that those aspects must be investigated by the judiciary and that a public official has the authority to promote activities they consider beneficial for the general interest. However, he clarified that he did not share Milei’s economic and legal view on cryptocurrencies.
Licht emphasized that the National Tax Court is an independent body from the Executive Branch, impartial and autonomous in its administrative and financial matters. He explained that losing money in an investment does not constitute a crime in itself, and it will be up to the judiciary to determine if there was any fraudulent management of the asset.
Journalist Alejandro Bercovich questioned Licht's stance, indicating that many people invested in Libra trusting the president's recommendation without having full knowledge of the risks. Licht, for his part, insisted that so far there is no evidence to show that Milei received compensation for promoting Libra.
The National Tax Court's mission is to resolve conflicts between the national public administration and taxpayers, avoiding the old "solve and repeat" system. Its function is to serve the general interest and ensure a balance between the State’s interests and those of taxpayers. In this sense, it will be up to the judiciary to determine if there were irregularities in the promotion of the cryptocurrency Libra by President Milei.
