statement

Official statement from Argentina: President Javier Milei will immediately transfer LIBRA-related matters to the Anti-Corruption Office and promises a thorough investigation until the truth is revealed

ChainCatcher news, according to the Argentine presidential office: "On October 19, 2024, President Javier Milei met with representatives of KIP Protocol in Argentina. During this meeting, the company representatives presented the president with their intention to develop a project called 'Viva la Libertad' ('Long Live Freedom'), which aims to utilize blockchain technology to provide financing for private enterprises in Argentina.This meeting has been officially recorded in the public hearing registry, with participants including the national president, KIP Protocol representatives Mauricio Novelli and Julian Peh, as well as presidential spokesperson Manuel Adorni.In this context, on January 30, 2025, the president met with Hayden Mark Davis at the Casa Rosada (Rose Palace). According to the introduction by KIP Protocol representatives, Mr. Davis will provide the technical infrastructure for the project. Mr. Davis has had no prior association with the Argentine government, nor has he established any relationship with it; he was referred as a project partner by representatives of KIP Protocol.Finally, yesterday, the president posted a message on his personal social media account announcing the launch of the KIP Protocol project, similar to his usual support for many entrepreneurs looking to start projects in Argentina to create jobs and attract investment. Due to the widespread attention the project launch received, and to avoid any speculation and reduce further dissemination, the president decided to delete this post.In light of the above, President Javier Milei has decided to immediately refer this matter to the Anti-Corruption Office (OA) to determine whether there has been any misconduct by any members of the national government, including the president himself, in this incident.Additionally, the national president has decided to establish an investigative task force (UTI) under the presidential office, which will consist of representatives from institutions and departments related to cryptocurrency, financial activities, money laundering, and other relevant fields, to consolidate information for an urgent investigation into the release of the cryptocurrency LIBRA and all related businesses or individuals.All information collected during the investigation will be handed over to the judicial authorities to determine whether any businesses or individuals associated with the KIP Protocol project are suspected of criminal activity.President Milei has demonstrated his commitment to the pursuit of truth through concrete actions and has pledged to thoroughly investigate this incident until the truth is revealed."

Full statement from the Federal Reserve: Maintain interest rates unchanged, reiterate that inflation remains relatively high

ChainCatcher message, the full translation of the Federal Reserve's statement on policy is as follows: Recent indicators show that economic activity continues to expand robustly. In recent months, the unemployment rate has stabilized at a low level, and the labor market remains solid. Inflation is still at relatively high levels.The Committee's goal is to achieve maximum employment and a long-term inflation rate of 2%. The Committee believes that the risks to achieving employment and inflation goals are roughly balanced. There is uncertainty in the current economic outlook, and the Committee is closely monitoring risks that may affect its dual mandate.To support its policy objectives, the Committee decided to maintain the federal funds rate target range at 4.25%-4.5%. In considering whether to adjust the target range further in terms of magnitude and timing, the Committee will carefully assess the latest economic data, changes in the economic outlook, and the balance of risks. The Committee will continue to reduce its holdings of U.S. Treasuries, agency bonds, and agency mortgage-backed securities (MBS). The Committee is firmly committed to supporting maximum employment and restoring inflation to the 2% target.In assessing the appropriate monetary policy stance, the Committee will continue to pay attention to the impact of the latest information on the economic outlook. If risks emerge that could impede the Committee's ability to achieve its goals, the Committee will adjust its monetary policy stance in a timely manner. The Committee's assessment will take into account a wide range of information, including labor market conditions, inflation pressures and expectations, as well as developments in financial and international conditions.
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