Economics expert warns about the risks of investing in cryptocurrencies
An economics expert expressed the need for relevant agencies to inform the public about the risks associated with investments in cryptocurrencies, especially those promising quick and substantial profits. In this regard, the Ministry of Economy and the Central Bank of the Argentine Republic were urged to carry out educational initiatives to raise awareness among citizens.
The complaint in question was filed following the promotion made by President Javier Milei regarding the cryptocurrency of the KIP Protocol company, which apparently sought to finance small and medium-sized Argentine enterprises. According to the complaint, the value of this coin rose from US$0.000001 to US$5.20 after the publicity made by Milei.
The investigation into this case has been delegated to prosecutor Eduardo Taiano and seems to point toward possible market manipulation of cryptocurrencies that could constitute a crime. Furthermore, other similar complaints have been filed in various federal courts, generating some confusion regarding jurisdiction to investigate these cases.
Meanwhile, Judge Marcelo Aguinsky forwarded a complaint related to the cryptocurrency $LIBRA to federal court 1 of María Servini. This episode highlights the growing popularity of digital assets as an investment form, posing new regulatory challenges in financial matters.
In this context, the country’s economic authorities have been urged to establish clear and accessible information channels to alert citizens about the risks of investing in unconventional digital financial platforms. Ultimately, the evolution of crypto assets as an investment alternative poses significant challenges that require greater awareness from investors and adequate regulation by the competent authorities.
