The Argentine parliamentary committee investigating the LIBRA cryptocurrency is scheduled to release its long-awaited final report today at 4pm local time (2pm ET), as the movement of multi-million dollar wallets triggers a new investigation.
The timing and scale raise pressing questions about political accountability, judicial oversight, and the fate of funds related to one of Argentina’s most controversial cryptocurrency investigations.
Libra final report filed amid new evidence and judicial action
LIBRA Commission Chair Maxi Ferraro acknowledged that the final report is the culmination of months of testimony, documentation, technical analysis, and judicial coordination.
“Look… on the day of the submission of the final report, after yesterday’s meeting with Mr. Taiano and in response to the report from the prosecutor’s office. To this is added the judge’s judgment of November 6th and the information disclosed by the commission on October 21st, which was further confirmed in the judicial resolution,” Ferraro shared in a post on Tuesday.
Yesterday, Mr. Ferraro and other committee members met with prosecutor Carlos Taiano and presented what he called key evidence.
Ferraro said the information provided included details that may relate to indirect payments to public officials related to one of the alleged cryptocurrency nests.
Ferraro said the report aimed to find out what political acts and inactions “could have prevented, facilitated, or failed to prevent the development of this incident,” and stressed that the commission acted within its oversight obligations.
$58 million in crypto moves quietly just before report
While Congress prepares to announce its findings, on-chain analysts have detected large-scale wallet activity related to the LIBRA scandal.
According to blockchain researcher Fernando Molina, the two dormant wallets:Mercy Kata” and “Libra: Team Wallet 1” suddenly liquidated its USDC positions totaling over $58 million and exchanged the stablecoin for SOL.
These wallets had not been used for 9 months. SOL has since been moved to another address. FKp1t.
“The first interpretation…is that they made it impossible to freeze the funds…this may be the last time we see this money visible,” Molina said.
He also emphasized that while U.S. authorities froze and later unfroze the funds after determining there was “no risk,” Argentine prosecutors have repeatedly sought a freezing order since April.
Importantly, unlike USDC, SOL cannot be frozen, especially in light of the European Commission’s report released today, a detail that has fueled speculation about the timing and intent of the transfer.
Balancing political surveillance and immutability of cryptocurrencies
Ferraro emphasized that the commission’s mission is by no means symbolic.
“Political oversight is not an institutional formality, but an essential obligation to maintain the health of the nation…We intend to submit a serious and convincing final report.”
The commission claims to have accomplished more in a matter of months than other commissions have achieved in significantly longer periods of time, and positions today’s release as a turning point for institutional accountability in Argentina’s crypto governance.
Issuance of the final report will set the stage for judicial follow-through, potential political repercussions, and new scrutiny of LIBRA-related wallets that currently move funds beyond the scope of freezing orders.
Today’s findings could reshape the next phase of Argentina’s ongoing crypto crackdown, as prosecutors actively investigate allegations of indirect payments and on-chain analysts warn that recent transactions may be the last visible traces of major funds.
The post Argentina’s LIBRA investigation reaches climax, but $58 million moves ahead of final report appeared first on BeInCrypto.
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