An Argentine federal prosecutor has asked a judge to keep the $LIBRA crypto scandal closed. Eduardo Taiano, who ran the criminal investigation, gave his opinion on Wednesday 11 November 2026 against a request to reopen the case.
The case concerns a memecoin, a joke-themed cryptocurrency, that President Javier Milei promoted online. For US readers, it shows how far a legal cloud over a market-friendly president can reach, and why Argentine bonds and US-listed Argentine shares still react to political news.
What Happened
On Wednesday 11 November 2026, prosecutor Eduardo Taiano told the federal court he opposed reopening the $LIBRA file. His opinion came as the court weighs a request to reopen the case.
Judge Marcelo Martínez de Giorgi had dismissed the case on Friday 23 October 2026. That ruling cleared President Javier Milei, his sister Karina Milei, and the other people under investigation.
On Thursday 29 October, the Procuraduría de Investigaciones Administrativas (PIA) took over the file. The PIA is a prosecutors’ unit that probes public officials.
The PIA, headed by Sergio Rodríguez, asked the court to reopen the case at once. It argued that the closure was premature and the investigation was not exhausted.
Obelisco monument in Buenos Aires. File photo.What the PIA Argues
Rodríguez argued that evidence measures were still pending. These are the unit’s arguments, and the file does not amount to a ruling on them.
The PIA also filed an appeal in the alternative. If the judge refuses, the Cámara Federal, the federal appeals court, would decide instead.
Crypto — Live Market Board
Why It Matters
The $LIBRA token is a memecoin that Milei promoted online. Hayden Davis, the token’s creator, was among those investigated.
Judge Daniel Rafecas, who was covering during the regular judge’s leave, said it was necessary to hear Taiano first. Taiano’s opinion does not bind the court, so the final call rests with Martínez de Giorgi, who has returned.
A second track runs in parallel at the Cámara Federal de Casación Penal, Argentina’s top criminal appeals court. It agreed to review whether two alleged victims can join the case as private prosecutors.
What It Means for You
Investors who hold Argentine assets should treat this as a political and legal risk, not a market shock. Argentina’s long-term foreign-currency rating stands at B-, upgraded from CCC+ on 10 June 2026 by S&P Global Ratings, a US credit-rating agency, with a stable outlook.
Nothing in the filings changes government policy or the debt picture. Still, a reopened case would keep the president in the headlines into a year when Argentina hopes to attract more foreign capital.
Travellers and expats face no practical effect. The matter is a criminal-procedure dispute inside the federal courts.
What Is Not Known
The reasons Taiano gave on 11 November have not been laid out in detail in the material we reviewed. We could not open the prosecutors’ filings or the court file directly, so the arguments above rest on the parties’ stated positions.
It is also unclear when Martínez de Giorgi will rule. If he refuses to reopen, the appeals court would take the PIA’s appeal.
No court has found that Milei broke the law. The dismissal of 23 October stands unless a higher court or the judge reverses it.
Frequently Asked Questions
What is the $LIBRA case?
It concerns a memecoin that President Javier Milei promoted online. Prosecutors investigated whether officials and promoters acted improperly.
Who is Eduardo Taiano?
He is the federal prosecutor who led the criminal investigation and asked for the case to be closed. On 11 November 2026 he opposed a request to reopen it.
Has Milei been charged in the $LIBRA case?
No. Judge Marcelo Martínez de Giorgi dismissed the case against him and the other people under investigation on 23 October 2026, and that ruling stands for now.
Sources: Ministerio Público Fiscal (prosecution service); Procuraduría de Investigaciones Administrativas (PIA); Poder Judicial de la Nación (federal courts); S&P Global Ratings, sovereign ratings