Trump nominates pro-Bitcoin Matt Gaetz as US attorney general

Josh O'Sullivan 25 seconds ago Trump nominates pro-Bitcoin Matt Gaetz as US attorney general Gaetz’s nomination for US attorney general signals a potential shift in the DOJ’s stance on crypto, innovation and regulatory policies. Breaking news COINTELEGRAPH IN YOUR SOCIAL FEED Follow our Subscribe on United States President-elect Donald Trump nominated Representative Matt Gaetz for Attorney General on Nov. 13, prompting Gaetz to announce his resignation from Congress “effective immediately.” The resignation ends Gaetz’s tenure in the House of Representatives, abruptly halting a House Ethics Committee investigation into his alleged misconduct — a probe that began in 2021 and focused on accusations of sexual misconduct and drug use. Gaetz previously introduced a legislative bill on June 25 requiring the Internal Revenue Service to accept Bitcoin payments from Americans filing their federal income taxes. The Florida lawmaker said the legislation resulted from his visiting the inauguration of El Salvador President Nayib Bukele , claiming that he wanted to “modernize” the tax system in the United States. Trump’s pick of Gaetz could impact the crypto industry, as he is expected to push for a regulatory approach that supports digital asset innovation while balancing oversight. Related: Crypto community hopeful about new Senate leader John Thune Trump backs Gaetz In a Nov. 13 X post, Trump praised Gaetz’s work in Congress, noting his dedication to what Trump described as “desperately needed reform at the Department of Justice.” Gaetz, who represents Florida’s 1st Congressional District, has served on the House Judiciary Committee, where he focused on government oversight issues, particularly within the DOJ. As attorney general, Gaetz is expected to address what he and other conservatives view as “government weaponization” within federal agencies. Source: Matt Gaetz Related: Bitcoin strategic reserve unlikely under Trump — Mike Novogratz Crypto in focus Gaetz has been a vocal supporter of cryptocurrency in Congress, previously advocating for legislation to integrate digital assets into mainstream financial systems. He has argued that the US should embrace digital currencies and learn from countries like El Salvador, which adopted Bitcoin as legal tender. His track record suggests that Gaetz may push to influence the DOJ’s approach to digital assets under the new Trump administration and implement plans to position the US more favorably in the global digital economy. Related: Silk Road founder trusts Trump to ‘honor his pledge’ for commutation Gaetz wants members of Congress banned from owning, trading certain assets Gaetz previously backed crypto-supportive regulation , including the Financial Innovation and Technology for the 21st Century (FIT21) Act. Although he has not made crypto central to his public platform, his new role may elevate crypto policy as a key component of his work in the DOJ. In May, Democratic Party Representatives Alexandria Ocasio-Cortez and Raja Krishnamoorthi, as well as Republican Party Representatives Brian Fitzpatrick and Gaetz, introduced the Bipartisan Restoring Faith in Government Act. An April 28 draft of the bill proposed amending US laws applying to congressional members to prohibit ownership of securities, securities futures and commodities, as well as limiting owning or trading certain assets. Magazine: Off The Grid’s success shows ‘invisible’ blockchain is the winning play # Bitcoin # Blockchain # Cryptocurrencies # Congress # Adoption # United States # Donald Trump # Regulation # US Elections 2024 Add reaction