Rep. Matt Gaetz of Florida is the latest name to gain office under Trump’s second administration.
It will serve as The next Attorney General. The Florida lawmaker has previously shown his support for cryptocurrencies and blockchain and has drawn media attention for his vocal opinions on digital currency policies and federal oversight.
Earlier in June, Gates proposed that US residents pay their income tax using Bitcoin. His nomination highlights incoming President Donald Trump’s ongoing push to reshape the Department of Justice, dismantle the “gun government,” and create favorable conditions for cryptocurrencies.
A controversial but loyal figure in Trump’s cabinet
Trump Nominated by Matt Gaetz It’s one of the most high-profile announcements this week. The president’s recommendation on Wednesday is the most controversial yet, and suggests the president wants to shake things up.
Gaetz is a colorful and controversial figure in Republican politics, remembered as one of those who called for the ouster of then-Speaker Kevin McCarthy.
It would be an honor to serve as President Trump’s Attorney General! pic.twitter.com/dg0iQ0bA6Y
– Matt Gaetz (@mattgaetz) November 13, 2024
Trump described Gaetz as a “tenacious and talented lawyer” who used his time in Congress to reform the judicial system. Matt Gaetz has consistently criticized the Biden administration for “weaponizing the justice system.”
Once confirmed by the Senate, Gaetz aims to do just that Rebuilding the Ministry of JusticeRestore its credibility and ensure that it operates in a transparent manner.
Matt Gaetz supports Bitcoin and Blockchain
Aside from his call for judicial reform, Gaetz also has his sights set on it Encryption and blockchain. In June, he proposed allowing income tax payments in Bitcoin.
The bill aims to amend the country’s Internal Revenue Code to allow the US Treasury Department to accept Bitcoin as a means of payment. According to Gates, this move will foster innovation, enhance efficiency, and provide choices to Americans.
Under Matt Gaetz’s bill, the Treasury Secretary would have to recommend rules on the processing of bitcoin payments for specific types of taxes. The bill also states that BTC payments will be converted to US dollars immediately upon receipt.
Trump continues to push to legalize Bitcoin
Gates’ nomination is part of Trump campaign to legalize Bitcoin And encryption. During the campaign, Trump promised to support the cryptocurrency industry by ending President Joe Biden’s aggressive policies against Bitcoin and cryptocurrencies. In one of his speeches, Trump pledged to make the United States the capital of Bitcoin mining.
Aside from Gates, there are a few pro-crypto officials under consideration. For example, Cantor Fitzgerald’s Howard Lutnick is being groomed to become Secretary of the Treasury. Trump also announced the appointment of Elon Musk and Vivek Ramaswamy to head the Department of Government Efficiency (DOGE).
Featured image from DALL-E, chart from TradingView
Comments are closed, but trackbacks and pingbacks are open.